Hong Kong-based company RD InnoTech plans to launch the Hong Kong Dollar stablecoin (HKDR) on the Ethereum blockchain. The stablecoin, pegged 1:1 to the Hong Kong dollar, aims to enhance digital finance in Hong Kong. The HKDR will be listed on HashKey Exchange, Hong Kong's largest compliant trading platform. The collaboration with HashKey and Allinpay International is expected to revolutionize payment services using stablecoins. RD InnoTech's CEO emphasized the potential for innovative cross-border payment solutions and the contribution to the Web 3.0 ecosystem. The stablecoin will have backing reserves consisting of high-quality, liquid assets held in a segregated account with a licensed bank, ensuring transparency through regular third-party audits. This move aligns with broader efforts to drive digital transformation in Hong Kong's financial sector and foster a more interconnected business environment.



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