HashKey On-Chain has partnered with RD Technologies to support on-chain testing of the RDUSD stablecoin on HSK Chain.
The partnership covers a series of technical and ecosystem initiatives centred on RDUSD, a US dollar stablecoin supported by RD Technologies and issued by Anchorage Digital Bank N.A. The collaboration spans on-chain digital asset trading, settlement, treasury management, and asset tokenization, while its stated objective is to extend RDUSD’s use beyond digital asset trading into cross-border trade, corporate payments and collections, and institutional finance.
RDUSD issuance and regulatory framing
Anchorage Digital Bank N.A. is a US federally regulated bank that provides digital asset custody and financial services to institutional clients. RDUSD has been designed to comply with the regulatory framework under the US GENIUS Act, and it is positioned as a digital US dollar settlement instrument for institutional treasury management and as a fiat-anchored component for asset tokenisation.
As the core component of the agreement, RDUSD is set to be deployed on HSK Chain, an Ethereum Layer 2 network designed for institutional use. The network will provide auditable infrastructure for the stablecoin’s deployment, circulation, and smart contract execution, along with technical development support for its integration across multiple platforms.
According to the companies, the HSK Chain ecosystem currently includes more than 200 projects. Furthermore, tokenised real-world assets (RWAs) on the network exceed USD 300 million and cover asset classes including money market funds, ETFs, and precious metals. HSK Chain has also set up a CeDeFi partnership with Morpho to explore institutional fund onboarding and on-chain yield. Once RDUSD is live, the two parties plan to integrate it into this ecosystem and test applications such as on-chain lending, trading, RWA subscriptions, and settlement.
Use cases across HashKey On-Chain platforms
RDUSD is to be integrated gradually across three of HashKey On-Chain’s platforms. On the HashKey Trading Portal (HTP), it will be used to settle trades in tokenised RWA products.
On the HashKey On-Chain Trade Finance Platform, RDUSD is expected to provide 24/7 on-chain clearing and settlement for import and export businesses. Combined with the tokenisation of trade assets such as electronic bills of lading, it is intended to support smart contract-based delivery versus payment (DvP). It is also meant to serve as a settlement tool for licensed financial institutions handling trade finance disbursements and repayments linked to underlying trade transactions.
Through the HashKey Settlement Platform (HSP), the companies will explore incorporating RDUSD into settlement protocols. The aim is to offer payment, collection, and settlement services, as well as cash pooling and disbursement channels, to enterprises and cross-border payment service providers. Furthermore, the companies also state that this work will create capacity for emerging use cases such as automated payments initiated by AI agents.
Implications for cross-border institutions
The planned use cases are also intended to meet the cross-border trade payment and treasury management needs of RD Technologies and its partners, with a focus on Asia-based cross-border institutions. Rachel Qiu, Head of Business Development at HashKey Group and COO of HashKey On-Chain Business Group, described the HSK Chain deployment as the first step in the collaboration. Subsequent work will focus on the gradual introduction of compliant stablecoins into commercial and financial activity. Rita Liu, CEO of RD Technologies, said the partnership would combine the two companies’ respective capabilities in cross-border payments and digital assets.
For HashKey On-Chain, the agreement forms part of its wider development of digital asset infrastructure for institutions. Stablecoins are positioned as a link between traditional finance and on-chain activity in cross-border payments, global treasury management, and RWA tokenisation. The arrangement also places a stablecoin issued by a US-regulated bank into testing for use by Asia-based cross-border businesses.
