IDA integrates HKDA stablecoin with Chainlink for secure cross-chain use

IDA Finance, a Hong Kong-based issuer of digital assets, said it is integrating Chainlink’s blockchain services into its upcoming HKDA stablecoin, which will be backed by the Hong Kong dollar. According to an Oct. 9 news release, the move aims to improve transparency and secure cross-chain operations for the fiat-backed stablecoin. Chainlink’s PoR technology ensures that users and investors can verify the assets backing HKDA, providing transparency regarding the reserve assets maintained by IDA. Alongside the integration of Chainlink’s PoR, IDA will also integrate the oracle provider’s Cross-Chain Interoperability Protocol (CCIP).

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