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HashKey plans RDUSD testing on HSK Chain with RD Technologies

HashKey On-Chain plans to test RDUSD on HSK Chain with RD Technologies, mapping out settlement uses for tokenised assets, trade finance and corporate payments.

The ChainBrief Editors

HashKey plans RDUSD testing on HSK Chain with RD Technologies

As stablecoins extend into institutional settlement, HashKey On-Chain said on Nov. 2 it had partnered with RD Technologies to explore RDUSD applications across trading, settlement, treasury management and asset tokenisation, according to HashKey’s announcement. The plan would bring RDUSD onto HSK Chain and connect it with HashKey platforms used for tokenised assets and cross-border finance.

What is planned for RDUSD on HSK Chain?

HashKey said RDUSD will be deployed on HSK Chain, an Ethereum layer-2 network, with the chain providing infrastructure for its on-chain deployment, circulation and smart-contract execution. The announcement describes the work as technical and ecosystem exploration; it does not say the token is already live on HSK Chain.

RDUSD is supported by RD Technologies and issued by Anchorage Digital Bank N.A., according to HashKey. Anchorage’s announcement on issuing RDUSD says each token is backed one-to-one by US dollars held at the bank, which will handle issuance, reserves, minting, redemption and custody. RD Technologies will support the stablecoin’s brand and application ecosystem, while HashKey is named as its primary secondary-market maker in Hong Kong.

HashKey described HSK Chain as an institutional-grade Ethereum layer 2. It said the network’s ecosystem includes more than 200 projects and on-chain real-world assets valued at over $300 million. The company said it would provide technical development support for RDUSD’s deployment and integration across platforms.

Where could the stablecoin be used?

HashKey outlined three potential areas. On its HashKey Trading Portal, RDUSD is intended for settlement of tokenised real-world asset products. On the trade finance platform, the companies expect it could support on-chain clearing and settlement for cross-border importers and exporters, including delivery-versus-payment transactions linked to tokenised trade assets such as electronic bills of lading.

The third area is HashKey Settlement Platform, where the companies will explore integrating RDUSD into settlement protocols for payments, collections, cash pooling and disbursements. HashKey said these integrations could also support corporate treasury management. The announcement presents these as potential applications and technical exploration, rather than services already available.

What does the partnership establish?

The announcement sets out a division of roles: Anchorage Digital Bank issues and manages the stablecoin, RD Technologies develops its application ecosystem, and HashKey provides chain infrastructure and platform integration. The companies aim to extend RDUSD from digital-asset trading into cross-border trade, corporate payments and institutional finance, but did not give a deployment date or disclose transaction volumes or commercial terms.

Sources