DBS Hong Kong has successfully completed the second phase of the Hong Kong Monetary Authority's digital Hong Kong dollar pilot program. The bank utilized programmable tokenization technology to issue ESG digital vouchers, which are restricted for use by designated merchants. Supported by DBS Token Services and in collaboration with the ESG platform ZERO2, participants receive vouchers upon completing environmental tasks. Merchants can redeem these vouchers for simulated digital Hong Kong dollars, which can be instantly converted via the Faster Payment System (FPS).