Chainlink (LINK) Emerges as Tech Partner for HKDR’s Hong Kong Dollar Stablecoin: A Major Crypto Milestone

• Chainlink, a leading crypto oracle solutions provider, has announced that RD Technologies is integrating its Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve (PoR) to power its Hong Kong dollar stablecoin (HKDR).
• This integration will enable secure and reliable cross-chain transfers of HKDR and provide easier access to the new stablecoin.
• RD Technologies is also adopting Chainlink’s PoR to provide reliable on-chain verification of HKDR’s reserve backing.

Chainlink partners with RD Technologies to power its Hong Kong dollar stablecoin, enabling secure cross-chain transfers and reliable reserve verification.

Chainlink’s Foray into Real-World Assets

The collaboration between Chainlink and RD Technologies aims to enable more businesses and merchants to settle payments in HKDR, enjoy faster and cheaper cross-border payments, and enable reliable transfer of tokenized real-world assets (RWA) using the stablecoin. The Hong Kong-based fintech firm stated it had made agreements with several globally renowned cross-border payments, virtual assets, and wealth management players to use the HKDR for cross-border payments.

Industry Reactions and Implications