Israel and Hong Kong trial a new digital currency
The Bank of Israel has partnered with the Hong Kong Monetary Authority to launch a trial of a new digital currency, testing its use against cyber security risks, the Bank of Israel said, according to a Bloomberg report on June 16.
The report also cited a statement by the two central banks, which read that the project’s deployment is set to begin in the third quarter of 2022 and “will use a two-tier central bank digital currency (CBDC).”