RD InnoTech to launch HKDR stablecoin on Ethereum

RD InnoTech has partnered with HashKey Exchange to launch its HKDR stablecoin, aiming to facilitate compliant cross-border payments.

Hong Kong-based RD InnoTech, a subsidiary of RD Technologies Group, is moving forward with plans to issue its HKDR stablecoin, designed to streamline international payments and cross-border transactions.

In a press release on Oct. 28, the company, which is included in the Hong Kong Monetary Authority’s stablecoin issuer sandbox, announced that the HKDR stablecoin will be rolled out on Ethereum (ETH), chosen for its liquidity, established ecosystem, and security features.

To achieve this goal, RD InnoTech has partnered with HashKey Exchange, a licensed Hong Kong-based crypto trading platform, to facilitate the launch. Under the collaboration agreement, RD InnoTech will leverage HashKey’s regulatory and institutional connections to support stablecoin integration.

Stablecoins as solution to reduce financial friction

Commenting on the stablecoin launch, RD Technologies Group chief executive Rita Liu said 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.”

Rita Liu

However, the company has not specified a launch date for the stablecoin or whether it will be accessible to the public through decentralized finance. 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 unveiled 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.