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Ida Finance, a Hong Kong-based stablecoin issuer, has announced its integration with Chainlink's Proof of Reserve (PoR) technology to ensure the collateralization of its upcoming HKDA stablecoin. The HKDA stablecoin will be backed 1:1 by the Hong Kong dollar, enhancing transparency and security for users. Chainlink's CCIP (Cross-Chain Interoperability Protocol) will facilitate secure cross-chain integration, providing users with greater visibility into the reserves that back the stablecoin. This partnership is part of a broader trend where Chainlink is playing a crucial role in advancing decentralized finance (DeFi) and connecting traditional finance (TradFi) with blockchain ecosystems.
COMMENT: By integrating with @Chainlink, HKDA users reportedly gain greater visibility into the reserves backing the stablecoin https://t.co/8gGqN8esBT
"Ida Finance announces partnership with Chainlink to pair HKDA stablecoin for secure cross-chain integration, utilizing proof of reserves and CCIP for enhanced asset security." #IdaFinance #Chainlink #HKDA #Stablecoin #CCIP #AssetSecurity
HONG KONG-BASED STABLECOIN ISSUER IDA TO INTEGRATE CHAINLINK PROOF OF RESERVE - IDA, a Hong Kong-based stablecoin issuer, announces its integration with @Chainlink’s Proof of Reserve (PoR) for ensuring the collateralization of its upcoming HKDA stablecoin, backed 1:1 by the Hong… https://t.co/v4yZmpJKwE https://t.co/oAVGOGguM2