HONG KONG, Aug. 27, 2024 /PRNewswire/ — RD Technologies announced today that it has reached an intent of cooperation with LianLian Global, to streamline and enhance cross-border transactions through the use of stablecoins. The partnership will leverage LianLian Global’s vast network and RD’s stablecoin to deliver a settlement network that is expected to enhance transaction speed and reduce costs.
Based in Hong Kong and facing the world, RD Technologies’ mission is to facilitate cross-border trade and financial transactions through the provision of efficient, safe, and innovative payment solutions for businesses. RD Technologies aims to contribute to the development of Hong Kong as a trade and financial hub in Asia through the use of Web2 and Web3 technologies.
LianLian Global is one of the leading cross-border payments company that helps eCommerce companies operate more effectively across the globe. With the utilization of HKDR, businesses within LianLian Global’s ecosystem will gain enhanced efficiencies in both cost and speed by using blockchain technology to settle cross-border transactions.
Rita Liu, Chief Executive Officer of RD Technologies, highlighted, "Today’s collaboration with LianLian Global marks RD Technologies’ ongoing commitment to expanding the future adoption of HKDR in cross-border payments. We look forward to the positive impact this collaboration will have on the broader market and the advancement of the Web3 ecosystem."
About RD Technologies:
RD Technologies Group (RD Technologies) deploys innovative Fintech solutions to connect the business world by trust. RD Technologies is a unique financial platform that connects the Web2 and Web3 world and market participants, which was launched in November 2023, and Hong Kong Dollar stablecoins to be tested shortly under the HKMA sandbox. Based in Hong Kong and facing the world, RD Technologies’ mission is to facilitate cross-border trade and financial transactions through the provision of efficient, safe, and innovative payment solutions for businesses, thereby contributing to the development of Hong Kong as a trade and financial hub in Asia.
The world of Web3 holds great promise for the future, and stablecoins play a crucial role in this evolving landscape. RD Technologies plans to engage regulated exchanges globally as well as payment partners to enable more cost and time-efficient cross-border payments and settlements. By leveraging our strong partnerships with licensed financial institutions, RD Technologies aims to drive the mainstream adoption of HKDR. Additionally, RD Technologies will develop innovative use cases that showcase the benefits of compliance, ensuring the safety and security of HKDR to all its users.
For details: https://rd.group
About HKD Stablecoin (HKDR):
On 18 July 2024, RD Technologies disclosed that its subsidiary, RD InnoTech Limited, was admitted to the stablecoin issuer sandbox of the Hong Kong Monetary Authority (HKMA). RD Technologies will be conducting testing for various use cases of its proprietary Hong Kong Dollar Stablecoin (HKDR).
HKDR is the Hong Kong Dollar stablecoin that RD Technologies is exploring to launch. HKDR’s value will be 1:1 in Hong Kong dollars, and its backing reserves will be made up of high-quality, highly liquid assets safe-kept in a segregated custody account with licensed financial institutions. Details of the reserves will be available to the public through independent third-party attestation reports published on a regular basis.
For details: https://rd.group/hkdr
About LianLian Global:
LianLian Global, as a core brand of Lianlian Digitech, is a comprehensive and innovative enterprise in cross-border finance and services in China. With strong compliance strength and technological innovation capabilities, LianLian Global has built a global financial network to reach the world and a trade service network to cover the entire life cycle of merchants. Focusing on the core needs of cross-border enterprises, LianLian Global, together with industry eco-partners, has created a one-stop cross-border trade service platform that integrates store opening assistance, global funds collection, global acquiring, global payout, Lianlian FX[1], Lianlian financing service platform[2], tax refund assistance and other services to help Chinese brands expand their overseas markets.
[1] The exchange rate of LianLian Global FX business is provided by partner banks
[2] The financing products and corresponding contents displayed on the Lianlian financing service platform are provided by relevant licensed institutions
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