RD Innotech, a participant in the Hong Kong Monetary Authority's stablecoin issuer sandbox, plans to launch the Hong Kong Dollar Stablecoin (HKDR) on the Ethereum blockchain. The initiative aims to strengthen Hong Kong's digital finance by providing a stable digital currency pegged 1:1 to the Hong Kong dollar.
RD InnoTech, a member of the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, plans to issue the first Hong Kong dollar stablecoin HKDR on Ethereum, on HashKey Exchange, Hong Kong's largest compliant exchange. We plan to officially list the stablecoin HKDR.
— Wu Blockchain (@WuBlockchain) October 28, 2024
Listing on HashKey Exchange
HDKR will be officially listed on HashKey Exchange, Hong Kong's largest compliant trading platform. This partnership with HashKey and Allinpay International is expected to facilitate both online and offline transactions using stablecoins and revolutionize payment services.
Rita Liu, CEO of RD Technologies, highlighted the potential for collaboration to create innovative cross-border payment solutions and significantly contribute to the Web 3.0 ecosystem. HKDR's backing reserves consist of high-quality liquid assets held in segregated accounts with licensed banks and are transparent through regular third-party audits.
RD InnoTech powers digital finance
This move not only positions RD InnoTech at the forefront of digital currency innovation, but also aligns with broader efforts to drive digital transformation within Hong Kong's financial sector. This partnership reflects a proactive approach to stablecoin adoption and promises increased transaction efficiency and reduced fees for both users and merchants.
As the fintech landscape evolves, the introduction of HKDR marks an important step towards integrating digital currencies into everyday financial transactions and fostering a more interconnected business environment in Hong Kong.
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