RD InnoTech, a Hong Kong-based subsidiary of RD Technologies Group, has announced its partnership with HashKey Exchange to launch the HKDR stablecoin on the Ethereum blockchain. The stablecoin is designed to facilitate compliant cross-border payments and streamline international transactions.
In a press release on October 28, RD InnoTech revealed that the HKDR stablecoin will be rolled out on Ethereum due to its liquidity, established ecosystem, and security features. The company is included in the Hong Kong Monetary Authority’s stablecoin issuer sandbox, which allows them to experiment with issuing digital currencies backed by fiat currencies.
The collaboration with HashKey Exchange, a licensed crypto trading platform based in Hong Kong, will provide RD InnoTech with regulatory and institutional support to ensure a successful stablecoin integration. Rita Liu, the chief executive of RD Technologies Group, emphasized the importance of stablecoins in reducing financial friction and enabling faster and more affordable cross-border transactions.
While a specific launch date for the HKDR stablecoin has not been announced, RD InnoTech’s collaboration with HashKey Exchange is part of a broader effort to establish Hong Kong as a hub for digital assets. The Hong Kong Monetary Authority’s stablecoin sandbox also includes participants such as JD.com’s subsidiary JINGDONG Coinlink Technology and a consortium featuring Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications.
The move to launch the HKDR stablecoin on Ethereum highlights the growing interest in stablecoins as a solution for improving global transactions and enhancing financial efficiency. As the digital asset industry continues to evolve, partnerships like the one between RD InnoTech and HashKey Exchange play a crucial role in driving innovation and adoption in the blockchain space.