US-listed company Yuta Logistics plans to apply for a Hong Kong dollar stablecoin license

US-listed company Rich Tower Logistics Technology Holdings (NASDAQ: RITR) has announced that it is actively studying relevant regulatory details and plans to apply for a stablecoin issuance license after the Hong Kong stablecoin regulations come into effect. The company intends to launch its own stablecoin, "RHKD," and also plans to issue a digital token called "RBTC," which will be pegged to Bitcoin as the underlying asset. Customers will be able to exchange Hong Kong dollars or US dollars for "RBTC." The company expects the token to be backed 100% by Bitcoin reserves, enabling a 1:1 Bitcoin exchange.