HONG KONG, March 21, 2025 /PRNewswire/ — IDA Finance Hong Kong Restricted (IDA), a number one digital asset firm based mostly in Hong Kong, Progmat Inc. (Progmat), a digital belongings platform supplier backed by Japan’s largest banking teams and expertise 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 supply a viable various for initiating, processing, and settling import/export trades between Japan and Hong Kong utilizing blockchain expertise. Each areas are positioned as engaging locations for stablecoin issuance and associated actions. This initiative demonstrates a sturdy dedication to making a safe and environment friendly framework for digital belongings, supported by regulatory readability from each Hong Kong and Japan concerning stablecoin growth.
“In response to the Hong Kong Commerce Growth Council (HKTDC), Japan was Hong Kong’s fifth-largest buying and selling accomplice 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 big,” acknowledged 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 issues. As a place to begin, IDA, Progmat, Datachain and TOKI will establish a testing consumer to provoke a cross-border fee request utilizing stablecoins denominated in Japanese Yen and Hong Kong {Dollars}. The events will guarantee profitable receipt of each stablecoins and fiat funds by way of native off-ramp companions. IDA will preserve sturdy financial administration and a clear 1:1 reserve backing, strictly adhering to regulatory compliance beneath Hong Kong’s regime. Progmat will present the stablecoin issuance and administration platform, Progmat Coin. Datachain will help 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 expertise 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 world markets, 24/7/365. To keep up the very best stage of safety and stability, all circulating stablecoins will all the time be absolutely backed by not less than 100% reserve belongings in regulated Hong Kong based mostly approved establishments.
To maximise the community impact of the stablecoin undertaking for home and cross-border utilization, IDA is partnering with key business gamers to facilitate the minting, redemption, and widespread acceptance of stablecoins as a fee and settlement digital foreign money.
Extra info might be discovered at idafi.xyz / LinkedIn / X
About Progmat Inc. (Progmat)
Progmat is a startup firm constructing digital asset infrastructures that may rework 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 world use of digital belongings. Progmat, as an impartial agency backed by a number of key establishments in nationwide monetary markets, additionally leads digital belongings ecosystem throughout a number of industries by working 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 at present centered on commercializing these initiatives utilizing stablecoins issued on the Progmat’s platform. Moreover, Datachain supplies cross-chain infrastructure utilizing IBC in partnership with TOKI and is engaged in a number of initiatives with enterprises and world Web3 initiatives. For extra details about Datachain, please go to https://www.datachain.jp/.
About TOKI FZCO (TOKI)
TOKI supplies 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 permits 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]
