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RD InnoTech has partnered with HashKey Exchange to launch its HKDR stablecoin, aiming to facilitate compliant cross-border payments. 
<a href="https://crypto.news/tag/hong-kong/" target="_blank">Hong Kong</a>-based RD InnoTech, a subsidiary of RD Technologies Group, is moving forward with plans to issue its HKDR <a href="https://crypto.news/tag/stablecoin/" target="_blank">stablecoin</a>, designed to streamline international payments and cross-border transactions. 
In a <a href="https://www.prnewswire.com/news-releases/rd-innotech-targets-future-stablecoin-launch-with-hashkey-exchange-advancing-cross-border-payment-ambitions-302288462.html" target="_blank" rel="nofollow">press release</a> 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 (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>), 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. 
<h2 class="wp-block-heading" id="stablecoins-as-solution-to-reduce-financial-friction">Stablecoins as solution to reduce financial friction</h2> 
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.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We are building a compliant, stable digital currency that unlocks speed and affordability for businesses across borders.” 
 Rita Liu 
</blockquote> 
 You might also like: <a rel="" href="https://crypto.news/hong-kongs-hashkey-postpones-hsk-token-launch-due-to-temporary-market-downturn/"> Hong Kong’s HashKey postpones HSK token launch due to ‘temporary market downturn’ </a> 
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 <a href="https://crypto.news/hong-kong-lists-standard-chartered-animoca-brands-as-stablecoin-sandbox-participants/" target="_blank">unveiled</a> 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. 
 Read more: <a rel="" href="https://crypto.news/hong-kong-considers-tax-break-on-crypto-investments-and-using-ai-for-finance/"> Hong Kong considers tax break on crypto investments and using AI for finance </a>

RD InnoTech to launch HKDR stablecoin on Ethereum

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