Authority's CBDC pilot program, showcasing a real estate asset tokenization solution. The partnership aims to demonstrate equity release using a retail version of the e-HKD CBDC, improving the process with tokenization. Ripple's CBDC platform will utilize XRP Ledger technology and enhanced functionality. The pilot project will provide valuable insights for HKMA's decision-making regarding the e-HKD's future implementation. Hong Kong has been researching CBDCs since 2017, recognizing the potential for emerging use cases.