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On 16 June 2022, the Hong Kong Monetary Authority (HKMA), the Bank of Israel and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre, announced a collaboration to test the cybersecurity of a two-tier retail Central Bank Digital Currency (CBDC). The project will focus on data security in a two-tier retail CBDC architecture where the intermediaries have no financial exposure and is expected to be completed by the end of 2022.
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