RD Partners with Chainlink

Published on: 09.05.2024

RD Technologies, a Hong Kong-based fintech company, is developing a stablecoin called HKDR that’s pegged 1:1 to the Hong Kong dollar. This digital currency aims to streamline payments and boost the Web 3.0 landscape in Hong Kong and Asia.

To ensure trust and transparency, RD Technologies is partnering with Chainlink, a leading decentralized oracle network. This collaboration will leverage Chainlink’s strengths in two key areas:

🔗 Cross-chain transfers: Chainlink’s CCIP protocol will enable secure and efficient movement of HKDR across different blockchains, making it more accessible for users.

✅ Verifiable reserves: Chainlink’s PoR system will provide on-chain verification of HKDR’s reserves, assuring users that the stablecoin is fully backed by real-world assets.

This partnership between RD Technologies and Chainlink has several potential benefits:

⚡ Faster and cheaper cross-border payments: Businesses and merchants worldwide can leverage HKDR for quicker and more cost-effective international transactions.

🪙 Secure tokenization of real-world assets: HKDR can be used to represent real-world assets like property or securities on a blockchain, facilitating secure and reliable transfers.

🤝 Increased trust and transparency: On-chain verification of reserves through PoR builds trust in the HKDR system.

About RD Technologies

RD Technologies aims to bridge the gap between traditional finance (Web 2.0) and the emerging world of decentralized finance (Web 3.0). Their mission is to make financial services more accessible, improve trade efficiency, and solidify Hong Kong’s position as a leading financial hub in Asia.

Website

About HKDR Stablecoin

HKDR is a planned stablecoin backed by the Hong Kong dollar. The reserves will be held in secure accounts with licensed institutions, and their details will be publicly available through regular independent audits.

Website

About Chainlink

Chainlink is a decentralized network that provides secure access to real-world data and off-chain computations for blockchain applications. It plays a crucial role in enabling secure cross-chain transfers and fostering trust in the DeFi ecosystem.

Website

Source:

https://rd.group/news/press-releases/RD-technologies-Chainlink-Services/

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