Hong Kong's IDA Collaborates With Chainlink For HKDA Stablecoin

According to Odaily, Hong Kong-based digital asset technology company IDA is partnering with Chainlink to integrate industry-standard token asset services for its upcoming stablecoin, HKDA, which will be pegged 1:1 to the Hong Kong Dollar. This collaboration will incorporate Chainlink's Proof of Reserve (PoR) to verify asset collateralization rates and the Cross-Chain Interoperability Protocol (CCIP) for cross-chain data and value transfers. The integration aims to provide HKDA users with secure and reliable on-chain reserve data, enhancing transparency. Additionally, IDA plans to integrate Chainlink's CCIP to enable secure cross-chain transfers of HKDA, ultimately improving the functionality and usability of the stablecoin. IDA is a digital asset technology company focused on promoting blockchain finance adoption and empowering enterprises to seamlessly connect between Web2 and Web3 environments. HKDA, pegged to fiat currency, is IDA's first product based on a public chain protocol.