Asia is a step ahead of other regions in developing central-bank digital currencies, with China, Hong Kong and Thailand set to roll out sovereign virtual tokens as a means of payment and to better monitor money flows.

One thing these central banks have in common is that they are all planning to partner with commercial banks in rolling out their digital tokens. But China will for now limit their use to domestic retail payments, unlike Hong Kong and Thailand, which are exploring their use for cross-border payments in bilateral trade.

Read the point of view of Guillaume Rico, Director at the Honk Kong office in the article published on South China Morning Post https://www.scmp.com/business/banking-finance/article/3043805/asias-central-banks-are-ahead-race-develop-their-own