(Hong Kong – 7 May 2024) RD Technologies is exploring the launch of a Hong Kong dollar stablecoin, HKDR Stablecoin, with the mission of facilitating the development of Hong Kong and Asia’s evolving Web 3.0 and virtual assets landscape.  RD Technologies is excited to announce that its HKDR is planning to integrate with Chainlink, the decentralised computing platform, to help advance its stablecoin business. 

Through its collaboration with Chainlink Labs, RD Technologies plans to integrate its HKDR with Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The integration will help enable secure and reliable cross-chain transfers of HKDR and easier access to HKDR. RD Technologies will also explore adopting Chainlink’s Proof of Reserve (PoR) to help provide reliable onchain verification of HKDR’s reserve backing. 

Backed 1:1 by the Hong Kong dollar, HKDR is a trusted and transparent stablecoin for payments and beyond. Currently, RD Technologies has reached agreements with several globally renowned cross-border payments, virtual assets, and wealth management players to explore the use of HKDR in B2B cross-border payments, virtual assets exchanges, and tokenised real-world asset settlement. The collaboration between RD Technologies and Chainlink will help enable more businesses and merchants to settle in HKDR; and enjoy faster and more cost-efficient cross-border payments. It will also enable reliable and secure transfer of real-world assets tokenized in HKDR.

Rita Liu, Chief Executive Officer, RD Technologies, commented, “We are pleased to be working with Chainlink Labs, as its proven track record of maintaining the highest standard of security and reliability is in line with RD Technologies’ mission of developing a trusted and transparent stablecoin for multiple business use cases across the globe. We are confident that our integration will help facilitate the adoption of HKDR in cross-border payments, real-world assets tokenisation, and other onchain finance applications; it will also empower us to facilitate the development of Hong Kong as a global Web 3.0 and virtual assets hub.” 

“We are excited to support RD Technologies’ Hong Kong dollar stablecoin with secure, reliable cross-chain transfers powered by Chainlink CCIP,” said Colin Cunningham, Head of RWA & Alliances at Chainlink Labs. “Settling transactions across chains with HKDR will accelerate the adoption of tokenised assets and enable faster, more cost-efficient cross-border payments.”

Chainlink CCIP is a secure interoperability protocol for building cross-chain applications, connecting private and public blockchains, and enabling token transfers across blockchains. Backed by the Risk Management Network – a separate and independent network that continually monitors and verifies cross-chain operations for suspicious activity, CCIP provides additional layers of protection and reliability. 

Chainlink’s PoR provides users with onchain verifications regarding the collateralization of onchain assets by comparing the asset’s current supply to the reserves backing.

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About RD Technologies: 

RD Technologies Group (“RD Technologies”) deploys innovative fintech to build a business world interconnected by trust. It is the financial platform that connects Web 2.0 and Web 3.0. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group

About HKD Stablecoin (HKDR):

HKDR is the Hong Kong dollar stablecoin that RD Technologies is exploring to launch. 
HKDR is backed 1:1 by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through independent third-party attestation reports published on a regular basis. For details: https://rd.group/hkdr

About Chainlink:

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.  Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.