HCC (Hyper-elliptic Curves Cryptosystem) is a typical public key cryptosystem with high efficiency and security. In the paper, we introduced HCC into the designing of e-cash schemes and presented an improved e-cash scheme with formal security analysis. The basic cryptography algorithms in e-cash are based on the complexity of HCDLP (Hyper-elliptic Curves Discrete Logarithm Problem).This designing strategy improves the efficiency for software and hardware application and effectively reinforces the security of e-cash. Dishonest users and outer adversaries can not attack secret parameters with feasible polynomial algorithms. As for scheme analyzing, we presented subliminal channel in signature to attack the IND-CCA2 property of the e-cash scheme, the subliminal channel algorithms can not attack the private keys or secret parameters with polynomial complexity either. Therefore, the scheme proves to be feasible for application with high efficiency and security.