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RD InnoTech Partners with HashKey Exchange to Launch HKDR Stablecoin for Cross-Border Payments
Hong Kong-based RD InnoTech, a subsidiary of RD Technologies Group, is set to issue its HKDR stablecoin, aimed at enhancing international payments and cross-border transactions.
In an announcement on Oct. 28, the company, which operates within the Hong Kong Monetary Authority’s stablecoin issuer sandbox, revealed that the HKDR stablecoin will be launched on the Ethereum blockchain. Ethereum was selected for its liquidity, established ecosystem, and robust security features.
To facilitate the launch, RD InnoTech has partnered with HashKey Exchange, a licensed crypto trading platform in Hong Kong. This collaboration will leverage HashKey’s regulatory and institutional connections to support the integration of the stablecoin.
Stablecoins as a Solution to Reduce Financial Friction
Commenting on the stablecoin launch, RD Technologies Group CEO Rita Liu stated that 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.”
However, the company has not specified a launch date for the stablecoin or whether it will be accessible to the public through decentralized finance platforms. RD InnoTech’s collaboration is part of a broader effort to establish Hong Kong as a hub for digital assets. Earlier in July, the Hong Kong Monetary Authority announced the list of participants in the stablecoin sandbox, allowing them to begin experimenting with issuing digital currencies backed by fiat currencies.
Alongside RD InnoTech, the sandbox includes JD.com’s subsidiary JINGDONG Coinlink Technology and a consortium featuring Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications.
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