RD InnoTech partnered up with HashKey Exchange in order to launch HKDR, a stablecoin that aims to simplify cross-border transactions.
Hong KongRD InnoTech (a subsidiary of RD Technologies Group) is preparing to launch its HKDR stablecoinThe streamlined international payment and trans-border transaction system is designed by.
It is a press release The company announced on October 28 that it will launch the HKDR on Ethereum.ETHThe ) was chosen because of its security, stability, and established ecosystem.
To help achieve this, RD InnoTech partnered up with HashKey Exchange to launch the platform. HashKey Exchange is a Hong Kong-based licensed crypto trading platform. RD InnoTech, under the terms of this collaboration agreement will use HashKey’s connections with regulatory bodies and institutions to facilitate stablecoin implementation.
Stablecoins to help reduce financial friction
Rita Liu, chief executive of RD Technologies Group, said stablecoins could be a useful tool for businesses. “eliminate friction in global transactions by synchronizing information and asset flows.”
“We are building a compliant, stable digital currency that unlocks speed and affordability for businesses across borders.”
Rita Liu
The stablecoin has yet to be launched by the company. It is also not known if it will become available through decentralized financing. RD InnoTech and Hong Kong are collaborating to make Hong Kong a digital asset hub. Hong Kong Monetary Authority unveiled List of Participants in Stablecoin Sandbox. This allows them to start experimenting by issuing digital currency backed up with fiat currencies.
In addition to RD InnoTech’s Jingdong Coinlink Technology subsidiary, the sandbox features Animoca Brands (Hong Kong), Standard Chartered Bank of Hong Kong, and Hong Kong Telecommunications.
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Source: crypto.news
