#Hong Kong #Stablecoins #RD Technologies

RD Technologies Celebrates the Passage of the Stablecoins Ordinance in Hong Kong

On May 21, 2025, RD Technologies, a leading fintech company based in Hong Kong, expressed its strong approval of the Legislative Council's recent passage of the Stablecoins Bill. This significant legislation introduces a licensing framework for issuers of fiat-referenced stablecoins (FRS) operating in Hong Kong. The enactment is hailed as a transformative measure designed to enhance the regulatory landscape for virtual asset activities, while simultaneously fostering financial innovation and stability.

The new Stablecoins Ordinance mandates that any entity wishing to issue FRS, especially those tied to the Hong Kong dollar, must obtain a license from the Hong Kong Monetary Authority (HKMA). With rigorous standards set in place, licensees will be required to maintain adequate reserve asset management, robust stabilization mechanisms, and the capacity to process redemption requests at par value under reasonable conditions. Additionally, issuers must comply with anti-money laundering regulations, counter-terrorist financing requirements, risk management protocols, and thorough disclosure and auditing obligations. These measures aim to bolster public trust and safeguard investor interests.

Rita Liu, the CEO of RD Technologies, stated, "We are thrilled with the passage of the Stablecoins Ordinance, which sets a clear and robust framework for the sustainable growth of Hong Kong's virtual asset ecosystem as a global financial hub. Our participation in the HKMA's sandbox highlights our commitment to regulatory compliance and innovation in this field."

A notable highlight of this development is RD InnoTech Limited, a subsidiary of RD Technologies and issuer of the HKDR stablecoin. The company was among the first to gain entry into the HKMA's stablecoin issuer sandbox last July, an achievement that underscores the company's dedication to meeting regulatory standards while pushing the envelope of stablecoin innovation. Liu continued, emphasizing RD Technologies' commitment to building trust by adhering to these regulations in order to deliver safe and innovative solutions related to virtual asset trading, cross-border payments, and real-world asset tokenization.

The ordinance is anticipated to become effective later this year and includes provisions to facilitate a smooth transition for industry participants, allowing them ample time to fulfill licensing requirements. RD Technologies has pledged to collaborate closely with regulatory bodies to navigate this new landscape and to continue driving responsible growth within the virtual asset industry.

About RD Technologies Group

RD Technologies Group is an innovative financial platform straddling the gap between the traditional Web2 and emerging Web3 worlds. Focused on leveraging advanced fintech solutions, the firm aims to foster a business environment rooted in trust. With its headquarters in Hong Kong, RD Technologies is deeply connected to the global financial community. The organization's mission is to enhance access to financial services for businesses, streamline trade processes, and promote Hong Kong as a leading trade hub in Asia and an international financial center.

HKDR Stablecoin (HKDR)

The HKDR Stablecoin represents a reliable and transparent stablecoin backed by the Hong Kong dollar. It is supported by high-quality and liquid asset reserves, which are secured in segregated accounts at licensed financial institutions. Regular independent attestation reports will provide public insights into these reserves. RD InnoTech Limited, as part of its commitment to the rigorous regulatory standards, is resolutely moving towards launching HKDR to contribute positively to Hong Kong's designation as a global center for Web3 and virtual assets.

For more information about RD Technologies and the HKDR Stablecoin, please visit RD Technologies and HKDR.