Multi-currency RD Wallet launches

RD Wallet, a licensed stored value facility in Hong Kong, officially launches today.

It offers mobile remote account opening and various currency payment services for businesses in Hong Kong and overseas, said chairman and founder Norman Chan Tak-lam, pictured.

The wallet application enables firms to remotely open accounts. The account opening process can be completed in as little as one hour with complete documentation.

Additionally, businesses can conveniently handle local and cross-border payments and currency exchanges anytime, anywhere through mobile phones.

Companies can use the wallet's transfer function to send and receive payments instantly. At present, it accommodates several widely used local currencies including the Hong Kong dollar, Chinese yuan, US dollar, Japanese yen and euro. Additional currencies will be included depending on customer demand.

Chan, a former chief executive of the Hong Kong Monetary Authority, said the company intended to introduce a stablecoin tied to the Hong Kong dollar.