HONG KONG, Oct. 28, 2024 /PRNewswire/ -- RD InnoTech Limited (RD InnoTech), a subsidiary of RD Technologies Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has focused on ensuring HKDR complies with rigorous regulatory standards while preparing for seamless market entry to support international payments and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, establishing a crucial framework for future compliant operations.
RD InnoTech plans to roll out its HKDR stablecoin on Ethereum in the future. RD InnoTech has selected Ethereum for its strong global liquidity and established ecosystem, proven stability, and secure, decentralized infrastructure-ensuring reliable, large-scale financial operations.
Hash Blockchain Limited (HashKey Exchange) Partnership: Driving Growth and Market Access
RD InnoTech plans to launch on Hashkey Exchange, the largest* licensed virtual asset trading platform approved by the Hong Kong Securities and Futures Commission (SFC), marking a pivotal step towards realizing its vision of enabling seamless, more efficient and compliant global payments through stablecoin integration.
Ms. Rita Liu, CEO of RD Technologies Group, highlights the strategic value of working with HashKey Exchange:"We are very excited to be working with HashKey Exchange because they bring critical components we need to launch HKDR successfully: regulatory credibility, vast institutional relationships, and deep liquidity. Their compliance with Hong Kong's VATP regulatory regime reinforces trust with partners and regulators."
Ms. Rita Liu adds that Hong Kong's role as a gateway between East and West strengthens stablecoins' potential for capturing Asia's growing demand in leveraging stablecoins for facilitating cross-border trade and payments: "Stablecoins can 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."
"We are excited to make a significant breakthrough in the Hong Kong stablecoin market and the global cross-border payment sector through our close collaboration with RD InnoTech. HKDR will not only lower transaction costs but also improve the efficiency of fund flows, providing global enterprises with a compliant and stable currency. This initiative will greatly enhance global trade and strengthen financial connectivity. As the largest licensed virtual asset exchange in Hong Kong, HashKey Exchange is fully committed to supporting this innovation, ensuring that professional investors can easily access this compliant stablecoin, backed 1:1 by the Hong Kong dollar^. Moving forward, HashKey Exchange will act as the 'nerve center' to continuously drive the development of compliant stablecoin operations," said Mr. Livio WENG, CEO of HashKey Exchange.
By combining regulatory rigor, strategic partnerships, and blockchain innovation, RD InnoTech aims to position HKDR as a key enabler of the future global payment landscape. The partnership with HashKey represents a critical step toward this goal, aligning with Hong Kong's ambition to become a global digital asset hub and setting the foundation for stablecoin adoption across Asia and beyond.
About RD Technologies Group:
RD Technologies Group (RD Technologies) is the financial platform that bridges the Web2 and Web3 worlds. It deploys innovative fintech to build a business world interconnected by trust. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group
Secure and innovative solutions managed by subsidiaries under RD Technologies include:
- RD Wallet:
RD Wallet Technologies Limited (RD Wallet) is a licensed Stored Value Facility in Hong Kong (licence number: SVF0016). It enables global businesses to open multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet is committed to facilitating cross-border trade and payments through efficient, secure, and innovative payment solutions for businesses, and contributing to the development of Hong Kong as a trade and financial hub in Asia. For details about RD Wallet: https://rd.group/products/wallet/
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- HKDR Stablecoin (HKDR):
HKDR Stablecoin (HKDR) is a trusted and transparent Hong Kong Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through regular independent attestation reports. In July 2024, RD InnoTech Limited, the issuer of HKDR, was among the first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Monetary Authority. RD InnoTech Limited will abide stringently by the regulatory requirements for the launch of HKDR to contribute to the continuous development of Hong Kong as a global Web3 and virtual asset hub. For details about HKDR: https://rd.group/hkdr
^Referenced from the HKDR official website introduction.
About HashKey Exchange
HashKey Exchange is committed to setting new benchmarks for virtual asset exchanges in terms of compliance, fund security, and platform safety. HashKey Exchange is one of the first licensed retail virtual asset exchanges in Hong Kong. It has been approved by the Securities and Futures Commission (SFC) and holds licenses for type 1 (securities trading) and type 7 (providing automated trading services) under the Securities and Futures Ordinance, as well as operating a virtual asset trading platform under the Anti-Money Laundering Ordinance, operating a virtual asset trading platform in compliance. As the flagship business of HashKey Group, HashKey Exchange provides one-stop virtual asset trading services for professional investors (PI) and retail investors. HashKey Exchange has obtained ISO 27001 (information security) and ISO 27701 (data privacy) management system certifications.
HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations.
Information may become outdated, due to new plans, regulations, or market changes.