PwC issues joint report on the use of eHKD for low balance retail investors

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The report was developed in collaboration with financial services platform Arta TechFin and enterprise technology company Emali

Hong Kong, 16 May 2024 – PwC has issued a joint report in Hong Kong entitled Programmable Payment and Investment: Cash Management for Low Balance Retail Investors with Hypothetical e-HKD. The report is issued in collaboration with financial services platform Arta TechFin and enterprise technology company Emali (see company profiles below). The report can be downloaded here.

This report examines how an e-HKD, should it be issued, could potentially streamline financial transactions by using smart contract programmability. This hypothetical e-HKD could potentially broaden financial inclusion, improve monetary rewards for low balance retail investors and unlock the value of small balances. The report shares key lessons learnt from a pilot of commercial uses of the e-HKD, including technological viability.

The report also explores how client onboarding processes, such as anti-money laundering (AML) and ‘know your customer’ (KYC), could potentially be optimised through the use of Digital Identity. Other areas of discussion include the use of transferrable verifiable credentials, the legality of smart contracts and the suitability of cryptographic techniques.

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About Arta TechFin Corporation Limited

Arta TechFin (0279.HK) is a Hong Kong-based financial services platform. ARTA offers customised and exclusive financial management solutions for diverse customers’ needs. We strive to empower our valued clients to realise their financial objectives with exceptional results.

Arta TechFin, through its various subsidiaries, are licensed under Hong Kong Securities and Futures Commission for brokerage and asset management services. Other licenses include Hong Kong Stock Exchange participant, insurance brokerage license, trustee license and money lending license in Hong Kong as well as Eurex Exchange and Chicago Mercantile Exchange participants.

About Emali Limited

Emali is an enterprise technology company specialising in the development of Web3 solutions for enterprises using its proprietary Trust Solutions technology stack. The company has developed and deployed multiple distributed systems for government agencies, financial institutions, and large corporations.