CandleFocus IDA to Integrate HKDA Stablecoin with Chainlink for Secure Cross-Chain Use
2024-10-09
Author: Content Editor
IDA Finance, a Hong Kong-based digital asset issuer, has announced that it will integrate Chainlink's blockchain services into its upcoming Hong Kong dollar-backed stablecoin, HKDA. The integration aims to increase transparency and ensure the security of cross-chain transactions for the fiat-backed stablecoin. This collaboration will include the implementation of Chainlink's Proof-of-Reserves (PoR) technology, which allows for on-chain verification of the assets backing HKDA. Additionally, IDA will integrate the Cross-Chain Interoperability Protocol (CCIP), which will enable HKDA to be used on decentralized finance platforms, exchanges, and payment systems, expanding its market reach.
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