Hong Kong to see launch of multicurrency e-wallets for cross-border payments on Thursday, HKD stablecoin to follow

In Hong Kong, a new digital wallet is about to be launched by a company called RD Wallet Technologies, led by Norman Chan, who used to be a big deal in Hong Kong's money world. This wallet will let businesses send and receive money in five important currencies from different countries. Norman also plans to create a Hong Kong dollar stablecoin, which is like a digital version of money that doesn't jump around in value, and he wants to do this in the next few months. Hong Kong is working on rules to make sure these digital moneys are safe by 2024. nnNorman started RD Technologies in 2020 and got the go-ahead for his digital wallet last year. They tried it out with lots of companies, and the Hong Kong Monetary Authority was happy with it. Norman was a big name in financial technology when he worked at the Hong Kong Monetary Authority, where he started a quick money transfer system and helped create internet-only banks. nnThe new wallet will make it super easy for companies to handle money in different currencies and send it across borders. It's a lot quicker than the old way of going to a bank. Norman believes this wallet will make trading faster and boost Hong Kong's role as a major financial and trading center. He's eager to get the Hong Kong dollar stablecoin out there, even before the new laws are in place. Despite a recent scandal with another digital money company, Norman is confident that Hong Kong will keep pushing forward with its digital money innovations.