Ripple teams up with the Hong Kong Monetary Authority.
Ripple will participate in the Hong Kong Monetary Authority’s digital Hong Kong dollar central bank digital currency pilot program by showcasing a real estate asset tokenization solution. The company will reveal its new CBDC platform at the same time.
Ripple will partner with Taiwan’s Fubon Bank and others to demonstrate equity release with tokenized assets using a retail version of the e-HKD CBDC. Equity release, also known as a reverse mortgage, is the practice of a lender letting a homeowner access the equity in their home, with payment coming due only when the house is sold or the borrower dies.
Tokenization can reduce friction in the equity release process and speed throughput for banks, Ripple said in a statement.
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