HashKey On-Chain and RD Technologies plan to test RDUSD on HSK Chain, exploring settlement for tokenized assets and cross-border trade as they seek institutional uses for the U.S. dollar stablecoin.
HashKey outlined possible applications through its platforms: settling tokenized real-world asset trades through its Trading Portal; handling cross-border trade payments that may use tokenized documents such as electronic bills of lading; and managing business payments, collections and cash pooling through its Settlement Platform. HashKey said these scenarios remain exploratory and do not commit the companies to commercial offerings.
According to Anchorage, its bank will take responsibility for RDUSD issuance and reserves, and oversee creation, redemption and custody. Anchorage says the bank will keep a matching amount of U.S. dollars in reserve for every RDUSD. RD Technologies said the token carries no HKMA license and will be offered in Hong Kong to professional investors only.
HashKey says HSK Chain will provide technical support for the token’s deployment and integration. Rachel Qiu, HashKey Group’s head of business development and chief operating officer of HashKey On-Chain Business Group, called the planned deployment “the first step in our collaboration.”
The companies did not give a launch date. HSK Chain’s token-reference page lists several token contracts but does not include RDUSD. HashKey says the partners intend to pursue further integration after deployment and launch.
