HONG KONG, Oct. 28, 2024 /PRNewswire/ — RD InnoTech Restricted (RD InnoTech), a subsidiary of RD Applied sciences Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has targeted on guaranteeing HKDR complies with rigorous regulatory requirements whereas making ready for seamless market entry to help worldwide funds and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Financial Authority (HKMA) stablecoin issuer sandbox, establishing an important framework for future compliant operations.
RD InnoTech plans to roll out its HKDR stablecoin on Ethereum sooner or later. RD InnoTech has chosen Ethereum for its sturdy world liquidity and established ecosystem, confirmed stability, and safe, decentralized infrastructure—guaranteeing dependable, large-scale monetary operations.
Hash Blockchain Restricted (HashKey Change) Partnership: Driving Progress and Market Entry
RD InnoTech plans to launch on Hashkey Change, the biggest* licensed digital asset buying and selling platform authorised by the Hong Kong Securities and Futures Fee (SFC), marking a pivotal step in the direction of realizing its imaginative and prescient of enabling seamless, extra environment friendly and compliant world funds by way of stablecoin integration.
Ms. Rita Liu, CEO of RD Applied sciences Group, highlights the strategic worth of working with HashKey Change:“We’re very excited to be working with HashKey Change as a result of they create crucial parts we have to launch HKDR efficiently: regulatory credibility, huge institutional relationships, and deep liquidity. Their compliance with Hong Kong’s VATP regulatory regime reinforces belief with companions and regulators.”
Ms. Rita Liu provides that Hong Kong’s function as a gateway between East and West strengthens stablecoins’ potential for capturing Asia’s rising demand in leveraging stablecoins for facilitating cross-border commerce and funds: “Stablecoins can eradicate friction in world transactions by synchronizing data and asset flows. We’re constructing a compliant, steady digital forex that unlocks velocity and affordability for companies throughout borders.”
“We’re excited to make a major breakthrough within the Hong Kong stablecoin market and the worldwide cross-border cost sector by way of our shut collaboration with RD InnoTech. HKDR won’t solely decrease transaction prices but additionally enhance the effectivity of fund flows, offering world enterprises with a compliant and steady forex. This initiative will drastically improve world commerce and strengthen monetary connectivity. As the biggest licensed digital asset trade in Hong Kong, HashKey Change is totally dedicated to supporting this innovation, guaranteeing that skilled traders can simply entry this compliant stablecoin, backed 1:1 by the Hong Kong greenback^. Shifting ahead, HashKey Change will act because the ‘nerve middle’ to repeatedly drive the event of compliant stablecoin operations,” mentioned Mr. Livio WENG, CEO of HashKey Change.
By combining regulatory rigor, strategic partnerships, and blockchain innovation, RD InnoTech goals to place HKDR as a key enabler of the future world cost panorama. The partnership with HashKey represents a crucial step towards this aim, aligning with Hong Kong’s ambition to turn out to be a world digital asset hub and setting the muse for stablecoin adoption throughout Asia and past.
About RD Applied sciences Group:
RD Applied sciences Group (RD Applied sciences) is the monetary platform that bridges the Web2 and Web3 worlds. It deploys revolutionary fintech to construct a enterprise world interconnected by belief. Based mostly in Hong Kong and linked with the worldwide group, RD Applied sciences was born out of a mission to allow companies to achieve simpler entry to monetary providers, improve commerce effectivity, and promote the event of Hong Kong as a commerce hub in Asia and a global monetary centre. For particulars: https://rd.group
Safe and revolutionary options managed by subsidiaries beneath RD Applied sciences embrace:
- RD Pockets:
RD Pockets Applied sciences Restricted (RD Pockets) is a licensed Saved Worth Facility in Hong Kong (licence quantity: SVF0016). It allows world companies to open multi-currency fiat accounts on cell anytime, wherever. RD Pockets is dedicated to facilitating cross-border commerce and funds by way of environment friendly, safe, and revolutionary cost options for companies, and contributing to the event of Hong Kong as a commerce and monetary hub in Asia. For particulars about RD Pockets: https://rd.group/merchandise/pockets/
For media inquiries, please contact: lucy.lengthy@rd.group - HKDR Stablecoin (HKDR):
HKDR Stablecoin (HKDR) is a trusted and clear Hong Kong Greenback stablecoin 1:1 backed by the Hong Kong greenback, with high-quality and extremely liquid property safekept in segregated custody accounts with licensed monetary establishments. Particulars of the reserves will probably be accessible to the general public by way of common impartial attestation studies. In July 2024, RD InnoTech Restricted, the issuer of HKDR, was among the many first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Financial Authority. RD InnoTech Restricted will abide stringently by the regulatory necessities for the launch of HKDR to contribute to the continual growth of Hong Kong as a world Web3 and digital asset hub. For particulars about HKDR: https://rd.group/hkdr
*Notice: As of October 20, 2024, HashKey Change rating ninth on CoinGecko’s world trade checklist, making it the biggest licensed digital asset trade in Hong Kong.
^Referenced from the HKDR official web site introduction.
About HashKey Change
HashKey Change is dedicated to setting new benchmarks for digital asset exchanges by way of compliance, fund safety, and platform security. HashKey Change is likely one of the first licensed retail digital asset exchanges in Hong Kong. It has been authorised by the Securities and Futures Fee (SFC) and holds licenses for sort 1 (securities buying and selling) and kind 7 (offering automated buying and selling providers) beneath the Securities and Futures Ordinance, in addition to working a digital asset buying and selling platform beneath the Anti-Cash Laundering Ordinance, working a digital asset buying and selling platform in compliance. Because the flagship enterprise of HashKey Group, HashKey Change gives one-stop digital asset buying and selling providers for skilled traders (PI) and retail traders. HashKey Change has obtained ISO 27001 (data safety) and ISO 27701 (information privateness) administration system certifications.
HashKey Change doesn’t service customers from Mainland China, United States and sure different jurisdictions in compliance with legal guidelines and laws.
Info might turn out to be outdated, because of new plans, laws, or market modifications.
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SOURCE RD Applied sciences Group
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