The Hong Kong Monetary Authority released a report on the 28th, introducing the main achievements and experiences of the second phase of the "Digital Hong Kong Dollar" pilot program, and elaborating on the latest policy stance of the Monetary Authority on the "Digital Hong Kong Dollar". The Hong Kong Monetary Authority has been conducting research on central bank digital currencies since 2017, based on distributed ledger technology. The research work covers the potential application scenarios of "digital Hong Kong dollars" at the wholesale and retail levels. The Hong Kong Monetary Authority believes that the current demand for "digital Hong Kong dollars" is concentrated outside the retail scene, so in the future, priority will be given to developing the application of "digital Hong Kong dollars" at the wholesale level. Financial institutions have already used "digital Hong Kong dollars" in some use cases to support the development of tokenized ecosystems and cross-border payment scenarios, such as international trade settlements. As one of the main achievements of the "Digital Hong Kong Dollar" industry forum, the Hong Kong Monetary Authority will announce a set of shared tokenization standards to promote the widespread application of digital currency programmability. These standards aim to lay the foundation for the future development and application of the 'Digital Hong Kong Dollar' to meet the payment needs of individuals and businesses in Hong Kong. The Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, stated that the two phases of the "Digital Hong Kong Dollar" pilot program have achieved rich results, which will help the Monetary Authority gain a deeper understanding of the future development of digital currencies. It is gratifying to see that the "digital Hong Kong dollar" has gradually been applied by financial institutions in more wholesale scenarios. The Hong Kong Monetary Authority stated that it will continue to prepare for the possible expansion of the "digital Hong Kong dollar" into retail scenarios in the future. The relevant preparation work is expected to be completed in the first half of 2026, and the timing of expanding the "digital Hong Kong dollar" will be adjusted according to international development, the latest technological developments, and market demand. (New Society)