hkdr

According to ChainCatcher news, as reported by Hong Kong media Ming Pao, Liu Yu, the CEO of Yuan Coin Technology, revealed in a recent interview that strict regulation of stablecoins is inevitable. Currently, the "ERC-3643" token standard possesses strong regulatory attributes, such as requirements for identity verification and permission restrictions, which may become a method for potential issuers, financial institutions, and virtual asset service providers (VASP) to operate in compliance under the current regulatory framework.It is reported that the Yuan Coin Technology website has displayed "Hong Kong Dollar Stablecoin HKDR (coming soon)" and has a dedicated page introducing HKDR. In this regard, Liu Yu stated that the company will make every effort to promote it and is confident that it will ultimately succeed in obtaining a license.

ChainCatcher news, according to Hong Kong media Xin Bao, the Hong Kong stablecoin regulation will take effect on Friday (August 1). Circle Technology is one of the participating institutions in the Monetary Authority's stablecoin issuer sandbox. The company's CEO, Liu Yu, stated in a recent interview that they intend to issue the Hong Kong dollar stablecoin HKDR on the Ethereum public chain. The proposed stablecoin mainly has three application scenarios: digital asset trading, cross-border trade, and asset tokenization, and it is expected that operations by businesses and individuals will become the norm within 3-5 years.

ChainCatcher news, digital asset custody and wallet technology provider Cobo announced a strategic partnership with RD Technologies, making Cobo the preferred wallet partner for the Hong Kong dollar stablecoin HKDR. Together with RD Technologies, Cobo will explore and promote the widespread application of HKDR, injecting new vitality into Hong Kong's digital finance sector.On July 18, RD Technologies announced that its subsidiary RD InnoTech Limited has been included in the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox program. As one of the first entities to join the sandbox, RD Technologies will conduct various use case tests for its proprietary Hong Kong dollar stablecoin HKDR, such as digital asset trading and cross-border trade payments.