RD InnoTech partners with HashKey Exchange to launch the HKDR stablecoin, aiming to facilitate compliant cross-border payments.
RD InnoTech, a Hong Kong-based subsidiary of RD Technologies Group, is moving forward with plans to launch the HKDR stablecoin, which aims to streamline international payments and cross-border transactions.
The company, which is part of the Hong Kong Monetary Authority’s Stablecoin Issuer Sandbox, said in a press release on October 28 that the HKDR stablecoin was chosen for its liquidity, established ecosystem, and security as Ethereum ( announced that it will be deployed on ETH). Features.
To achieve this goal, RD InnoTech partnered with HashKey Exchange, a licensed Hong Kong-based cryptocurrency trading platform, to facilitate the launch. Under the collaboration agreement, RD InnoTech will leverage HashKey’s regulatory and institutional connections to support stablecoin integration.
Stablecoins as a solution to reduce financial friction
Commenting on the launch of stablecoins, Rita Liu, CEO of RD Technologies Group, said that stablecoins can “remove friction in global transactions by synchronizing the flow of information and assets. ” he said.
“We are building a compliant, stable digital currency that enables speed and affordability for businesses across borders.”
Rita Liu
However, the company has not disclosed the launch date of the stablecoin or whether it will be accessible to the general public through decentralized finance. The RD InnoTech collaboration is part of a broader effort to establish Hong Kong as a hub for digital assets. In early July, the Hong Kong Monetary Authority announced the list of participants for its stablecoin sandbox, allowing it to begin experimenting with the issuance of fiat-backed digital currencies.
In addition to RD InnoTech, the sandbox includes JINGDONG Coinlink Technology, a subsidiary of JD.com, and a consortium that includes Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications.
