HKMA launches Project Sage to explore 'agentic finance' AI governance and introduces tokenised central bank money for 24/7 interbank settlement
The Hong Kong Monetary Authority (HKMA) has unveiled the next phase of its Fintech 2030 strategy, focusing on new technology initiatives alongside enhanced governance and risk management. HKMA chief executive Eddie Yue announced the launch of Project Sage to examine the application and governance of "agentic finance," which are AI systems capable of executing tasks on behalf of users. A cross-sector expert panel will explore use cases, sandbox testing, interoperability standards, and governance safeguards. The HKMA is also issuing a discussion paper on banks’ use of agentic AI and will launch a post-quantum cryptography toolbox with the Hong Kong University of Science and Technology. Additionally, the HKMA is introducing tokenised central bank money to enable 24/7 settlement of interbank tokenised deposits, aiming to expand participating banks for round-the-clock cross-lender transfers and facilitate global liquidity management and retail tokenised financial product investments.
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