Circle Technology plans to issue the HKDR Hong Kong dollar stablecoin on Ethereum

According to ChainCatcher, citing Hong Kong media outlet Hong Kong Economic Journal, the Hong Kong stablecoin regulations will come into effect on Friday (August 1). RD Technologies, one of the sandbox participants for the Hong Kong Monetary Authority’s stablecoin issuer program, revealed in a recent exclusive interview with CEO Liu Yu that the company intends to issue the HKDR Hong Kong dollar stablecoin on the Ethereum public blockchain. The planned stablecoin will focus on three main application scenarios: digital asset trading, cross-border trade, and asset tokenization. It is expected that within three to five years, both corporate and individual usage will become the norm.