HashKey On-Chain has partnered with RD Technologies to bring RDUSD, a US dollar stablecoin, to its HSK Chain network for on-chain testing.

Both firms aim to extend its use beyond digital asset trading into cross-border trade and corporate payments.

RD Technologies, a Hong Kong fintech, supports the stablecoin. The token is issued by Anchorage Digital Bank N.A., a US bank with a federal charter for digital assets. RDUSD is designed to comply with the US GENIUS Act.

HSK Chain is HashKey’s Ethereum Layer 2. The company says it hosts more than 200 projects and over US$300 million in tokenised real-world assets (RWAs).

Once RDUSD goes live, the firms will explore its use in on-chain lending, trading and settlement. HashKey also plans to add it to three of its platforms.

Its Trading Portal will use RDUSD to settle trades in tokenised RWA products. On its trade finance platform, HashKey expects the stablecoin to give importers and exporters cheaper and more efficient settlement 24/7.

With tokenised trade documents such as electronic bills of lading, smart contracts could exchange documents and payment at the same time. Licensed lenders may also use it for trade loans and repayments.

Through its Settlement Platform, HashKey and RD Technologies will explore using RDUSD for corporate payments, collections and cash pooling.

“The upcoming deployment of RDUSD on HSK Chain marks the first step in our collaboration,”

said Rachel Qiu, Head of Business Development at HashKey Group and COO at HashKey On-Chain Business Group.

“The close collaboration between HashKey On-Chain and RD Technologies has always been a key focus for both parties. RDUSD brings a fresh highlight to this partnership,”

said Rita Liu, CEO at RD Technologies.

Featured image: Edited by Fintech News Hong Kong, based on image by Magnific.