Since March, Hong Kong and Asia have been immersed in a fervent discussion about Web3. During this period, large-scale global and regional events such as the WOW Summit, Hong Kong Web 3.0 Spring Summit, and Hong Kong Web3 Festival took place, attracting various Web3 institutions and heavyweight guests from around the world. RD Technologies, as a financial platform bridging Web2 and Web3, had the privilege of participating in all these events.  

One of the hot topics in the Hong Kong Web3 industry this year is stablecoins! Stablecoins are essential elements of the Web3 ecosystem and act as a bridge between traditional finance (TradFi) and decentralized finance (DeFi). 

RD Technologies plans to launch a compliant, trusted, and transparent Hong Kong dollar stablecoin, HKDR, to be applied in various commercial scenarios within and beyond Hong Kong, promoting the development of the Web3 ecosystem in Hong Kong. 

During the Hong Kong Web3 Festival, RD Technologies also facilitated and participated in numerous activities and discussions related to stablecoins. This included a roundtable discussion on the development of stablecoins in Asia, involving key executives from USDC issuer Circle, DRW's cryptocurrency subsidiary Cumberland, and TON Wallet. The discussion revolved around the opportunities, use cases, and regulatory aspects of stablecoins. 

In recent years, the virtual asset ecosystem has been experiencing rapid development, while regulations have been increasingly improving. We believe that the widespread adoption of a trustworthy and reliable Hong Kong dollar stablecoin is the key to the explosive growth of the virtual currency market, not only in Hong Kong but also beyond. A stable and trustworthy Hong Kong dollar stablecoin will facilitate transactions of virtual assets and tokenized assets, enhance cost-effectiveness in cross-border payments, and drive the widespread adoption of various on-chain financial services. We hope that RD Technologies can participate in this development process as a driver and enabler. 

While the Web3 ecosystem is rapidly evolving, Web2 and traditional financial industries will coexist for a period. One of the visions of RD Technologies is to empower Web2 ecosystem institutions and merchants to enhance their business development, user experience, and efficiency through its RD Wallet. 

RD Wallet is a licensed Stored Value Facility in Hong Kong, providing mobile remote account opening services to businesses in need of Hong Kong financial services, whether they are based in Hong Kong, overseas, or offshore. Through RD Wallet, businesses can deposit and withdraw funds through channels such as SWIFT, CHATS, and Faster Payment System (FPS). They can also make instant payments and receive payments through the unique wallet-to-wallet transfer feature of RD Wallet. 

During the Hong Kong Web3 Festival, RD Technologies co-hosted a sharing event with Cobo, HashKey Group, and HashKey Exchange, aimed at empowering Web2 payment institutions and merchants in their development. We look forward to collaborating with different partners to expand the industry cake and benefit a wider range of institutions and merchants! 

Although several major Web3 events in Hong Kong and the region have successfully concluded, our team has not slowed down. We are actively preparing for our participation in the Money 20/20 Asia exhibition, which will take place from April 23rd to 25th in Bangkok. We hope to meet with numerous global payment institutions and merchants during the event to explore cooperation and development opportunities together!