IDA Partners with Chainlink to Improve Transparency of HKDA, Its 1:1 HKD-collateralized Stablecoin

Odaily News According to official news, Hong Kong digital asset technology company IDA is currently working with Chainlink to integrate Chainlink's industry-standard token asset services for its upcoming stablecoin HKDA, which is collateralized by 1:1 Hong Kong dollars, including Chainlink's proof of reserves (PoR) for verifying asset collateralization rates and Chainlink's cross-chain interoperability protocol (CCIP) for cross-chain transmission of data and value. This cooperation will enable HKDA users to view the collateral reserves of stablecoins through Chainlink's secure and reliable on-chain reserve proof data, thereby enhancing its transparency. In addition, IDA also plans to integrate Chanlink CCIP to securely cross-chain HKDA, ultimately enhancing the functionality and usability of HKDA. It is reported that IDA is a digital asset technology company dedicated to promoting the adoption of blockchain finance and enabling enterprises to seamlessly connect between the Web2 and Web3 worlds. HKDA is a stablecoin pegged to fiat currency based on the public chain protocol, and it is also the first product issued by IDA.