Visapayment processing company, completed the pilot program on central bank digital currency (CBDC) Hong Kong Monetary Authority together HSBC And Hang Seng Bank.

According to the announcement dated November 1, the program e-HKD guess tokenization of depositsThe money deposited in a bank is recorded in the company’s blockchain ledger with the support of the balance sheet. Among the key findings, Visa wrote:

“As demonstrated by tests, the time it took for the interbank transfer to occur was near real-time. Tokenized deposits were burned on the sending bank’s ledger, mined on the receiving bank’s ledger, and distributed simultaneously between banks via the wholesale simulated CBDC layer.”

Additionally, during the pilot phase, Visa stated: The platform was capable of operating 24/7Improving traditional payment systems that cannot operate outside business hours or on weekends.

“Our testing was completed using globally available blockchain networks and supported by teams in multiple time zones.”the company wrote. Besides, tokenized deposits traded via cryptographyallows them to be viewed in blockchain explorers but balances without revealing the identity of the participants or transaction amounts to non-banking users.

Related: The Future of Payments? Visa to invest $100 million in productive artificial intelligence

Payment processor says it’s investigating next steps tokenized asset markets And programmable finance. “For example, in the ‘Real Estate Payments’ use case, a buyer’s payment transferring remaining tokens to the real estate developer can be automated until the contract completion date is reached, minimizing the lag time in closing the process.”Visa wrote.

After the positive results obtained, e-HKD pilot program will enter Phase 2