So I attended the RD Technologies VIP Party on Oct 28th.
For those of you who don’t know “RD” yet, you can check their website: https://www.rd.group/
They are one of the new big players in Hong Kong banking and Fintech spheres. They are licensed as an SVF “Stored Value Facility” in Hong Kong - while most competitors in the same field are licensed as MSO “Money Service Operator”.
This SVF license is notoriously difficult to get. They are maybe 10 or 15 only in HK…They offer multi-currency accounts in 8 currencies for companies based in or outside of Hong Kong.
But the big deal is their HKDR stable coin, which - way down the road - is intended to serve as an alternative to Swift.
RD has Norman Chan, former chief of the Hong Kong Monetary Authority, on its Board of Directors (https://en.wikipedia.org/wiki/Norman_Chan). Their VIP party was hosted at Ichu Peru, a trendy latin american place (a big change compared with the first fintech events 10 years ago on rooftops of co-working spaces where people brought their own beers.
No doubt that RD has big ambitions, and the means for them.
By the way “RD” means “Round Dollar”.
Will probably do a video about them some time…
Author
Vivian Au
Vivian Au is the founder of Air Corporate and has over 20 years of experience advising companies in Hong Kong on incorporation, corporate governance, accounting, and regulatory compliance.
