HONG KONG, March 21, 2025 /PRNewswire/ — IDA Finance Hong Kong Restricted (IDA), a number one digital asset firm primarily based in Hong Kong, Progmat Inc. (Progmat), a digital property platform supplier backed by Japan’s largest banking teams and know-how companies, Datachain, Inc. (Datachain), a number one blockchain agency in Japan, and TOKI FZCO (TOKI), a cross-chain infrastructure supplier, have introduced a strategic partnership to develop a proof of idea (PoC) to allow stablecoin-based cross-border use instances between Hong Kong and Japan.
The PoC seeks to offer a viable various for initiating, processing, and settling import/export trades between Japan and Hong Kong utilizing blockchain know-how. Each areas are positioned as enticing locations for stablecoin issuance and associated actions. This initiative demonstrates a sturdy dedication to making a safe and environment friendly framework for digital property, supported by regulatory readability from each Hong Kong and Japan concerning stablecoin growth.
“In keeping with the Hong Kong Commerce Improvement Council (HKTDC), Japan was Hong Kong’s fifth-largest buying and selling companion in 2023[1], making it one of many largest markets for imports and exports. With stablecoins rising as a viable various to conventional remittance strategies, together with stablecoin regulatory readability from each areas, the potential for progress on this space is gigantic,” said Sean Lee, Co-Founding father of IDA.
This PoC will consider the enhancements and advantages in comparison with present commerce routes whereas addressing regulatory and compliance concerns. As a place to begin, IDA, Progmat, Datachain and TOKI will establish a testing person to provoke a cross-border cost request utilizing stablecoins denominated in Japanese Yen and Hong Kong {Dollars}. The events will guarantee profitable receipt of each stablecoins and fiat funds via native off-ramp companions. IDA will preserve strong financial administration and a clear 1:1 reserve backing, strictly adhering to regulatory compliance below Hong Kong’s regime. Progmat will present the stablecoin issuance and administration platform, Progmat Coin. Datachain will assist the event and implementation of cross-border stablecoin exchanges. TOKI will leverage its cross-chain experience to allow seamless cross-chain transactions.
About IDA Finance Hong Kong Restricted (IDA)
IDA is the premier digital asset know-how firm to spearhead the widespread adoption of blockchain finance and to empower companies to seamlessly combine between Web2 and Web3.
IDA will launch a stablecoin product which is designed to drive enhanced connectivity of digital foreign money for seamless commerce and funds between Hong Kong and international markets, 24/7/365. To take care of the very best degree of safety and stability, all circulating stablecoins will at all times be totally backed by at the least 100% reserve property in regulated Hong Kong primarily based approved establishments.
To maximise the community impact of the stablecoin undertaking for home and cross-border utilization, IDA is partnering with key trade gamers to facilitate the minting, redemption, and widespread acceptance of stablecoins as a cost and settlement digital foreign money.
Extra info may be discovered at idafi.xyz / LinkedIn / X
About Progmat Inc. (Progmat)
Progmat is a startup firm constructing digital asset infrastructures that may remodel the monetary system. With a mission of “Connecting the society with the programmable community and digitizing each worth,” Progmat delivers the issuance and administration platform for tokenized securities, stablecoins, and utility tokens, whereas pursuing partnerships to broaden international use of digital property. Progmat, as an unbiased agency backed by a number of key establishments in nationwide monetary markets, additionally leads digital property ecosystem throughout a number of industries by operating the Digital Asset Co-Creation Consortium, which has over 200 member companies. For extra info, go to https://progmat.co.jp/en/.
About Datachain, Inc. (Datachain)
Datachain, based in 2018, is a tech firm reworking blockchain interoperability and stablecoin settlement. In collaboration with Progmat, Datachain is co-developing a stablecoin platform and is presently targeted on commercializing these initiatives utilizing stablecoins issued on the Progmat’s platform. Moreover, Datachain gives cross-chain infrastructure utilizing IBC in partnership with TOKI and is engaged in a number of tasks with enterprises and international Web3 initiatives. For extra details about Datachain, please go to https://www.datachain.jp/.
About TOKI FZCO (TOKI)
TOKI gives a extremely safe cross-chain infrastructure that connects Ethereum, BNB Chain, Optimism, Arbitrum, and different main blockchains whereas unifying liquidity swimming pools throughout them. This allows seamless, one-click native token swaps between these networks, enhancing interoperability. In February 2025, TOKI launched its first-party cross-chain bridge app constructed on this infrastructure, which is now stay on the Ethereum and BNB Chain mainnets. For extra details about Datachain, please go to https://toki.finance/.
Media Contact
Progmat – https://progmat.co.jp/en/contact/
Datachain – [email protected]
TOKI – [email protected]
