RD InnoTech to launch HKDR stablecoin on Ethereum

RD InnoTech has partnered with HashKey Exchange to launch the HKDR stablecoin, which aims to facilitate compliant cross-border payments.

Hong Kong-based RD InnoTech, a subsidiary of RD Technologies Group, is moving forward with plans to launch its HKDR stablecoin, designed to facilitate international payments and cross-border transactions.

The company, which is in the Hong Kong Monetary Authority’s stablecoin issuer sandbox, announced in a press release on October 28 that the HKDR stablecoin will be launched in Ethereum (ETH), chosen for its liquidity, built-in ecosystem and security. features.

To achieve this goal, RD InnoTech has partnered with HashKey Exchange, a licensed crypto trading platform based in Hong Kong, to facilitate the launch. Under the collaboration agreement, RD InnoTech will leverage HashKey’s regulatory and corporate connections to support stablecoin integration.

Stablecoins as a solution to reduce financial friction

Commenting on the stablecoin launch, RD Technologies Group CEO Rita Liu said stablecoins can “eliminate friction in global transactions by synchronizing information and asset flows.”

“We are creating a compatible, stable digital currency that unlocks speed and affordability for businesses across borders.”

Rita Liu

However, the company did not specify a launch date for the stablecoin or whether it will be accessible to the public through decentralized finance. RD InnoTech’s collaboration is part of a broader effort to make Hong Kong a hub for digital assets. In early July, the Hong Kong Monetary Authority announced the list of participants in the stablecoin virtual space, allowing them to begin experiments with issuing digital currencies backed by fiat currencies.

In addition to RD InnoTech, the sandbox includes JD.com subsidiary JINGDONG Coinlink Technology and a consortium that includes Standard Chartered Bank (Hong Kong), Animoca Brands and Hong Kong Telecommunications.