Norman Chan Appointed as Chairman of the Board of RD Wallet Technologies Limited
Hong Kong, 14th October 2020 - Norman Chan Tak-lam, former Chief Executive of the Hong Kong Monetary Authority, announced the establishment of RD Wallet Technologies Limited (“RD Wallet”), with Norman Chan also serving as the Chairman of the Board.
RD Wallet is a digital wallet payment company leveraging the latest fintech, established to help resolve the pain points of difficult and slow cross-border payments encountered by trading companies, and to facilitate their management of foreign exchange risk.
Mr. Norman Chan commented, “Currently, cross-border trade suffers from pain points such as exchange rate exposure as well as difficult and slow payments. I wish to establish the RD Wallet system leveraging innovative fintech as a solution to these pain points, and I expect this system to facilitate trades in the region and further consolidate Hong Kong’s position as the international financial centre.”
RD Wallet is now recruiting core team members and constructing a technology platform, with a view to implementing and launching the project as soon as possible.
RD Wallet supports payment for trading companies. In addition to the currencies commonly used in trade payments, RD Wallet also introduces “RDU”, a booking and payment unit constituted by various currencies in the region. Instead of using single foreign currency for denomination and settlement, “RDU” will be beneficial to foreign trading companies in Asia for management of foreign exchange risk.
RD Wallet is owned as to 20% by each of its five major investors, who are principally engaged in the fintech industry or devoted to investment funds in the technology or financial sectors, including:
- Bright Venture Investment L.P.
- Dragonfly Round L.P.
- Eminent Vision Limited
- HashKey Holdings Limited
- ZhongAn Digital Asset Group Limited