.AntonyWelfare Ripple CBDC advisor showcases XRPL real-world utility in NFTs RippleXRP XRPCommunity XRPArmy $XRP NFT XRPHolders
brought attention to how Hong Kong intends to test its digital dollar in the $229 billion mortgage market using XRPL and Ripple CBDC technology.
In May, Ripple announced that it had been chosen to participate in the Hong Kong Monetary Authority's first-ever e-HKD Pilot Program and showcase a real estate asset tokenization solution. According to the pilot participants, the central bank of Hong Kong intends to test the use of its digital currency as part of a pilot project in the $229 billion mortgage market. The goal is to cut the month-long loan approval procedure in half.Fubon Bank and Ripple, two of the pilot participants, will examine the usage of the e-HKD in residential mortgage loans, which made up one-fifth of the loan book for the banking industry in recent months, according to Welfare.
In the pilot study, it will be evaluated whether home buyers can get e-HKD loans in an e-wallet both online and offline.
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