IDA and AUDC Partner on HK-AU Stablecoin-Based Cross-Border Trade Initiative
HONG KONG, April 15, 2025 /PRNewswire/ -- IDA, a Hong Kong-based fintech company, and AUDC Pty Ltd have announced a strategic collaboration to launch a Hong Kong-Australia stablecoin-based cross-border trade initiative. This initiative aims to transform trade between Hong Kong and Australia by introducing faster, more transparent, cost-effective cross-border payment systems.
Building on the strong trade relationship established under the Australia-Hong Kong Free Trade Agreement (A-HKFTA), this collaboration leverages Hong Kong's role as a vital gateway connecting mainland China with the world. The agreement, A-HKFTA, which underscores Hong Kong's high degree of autonomy under the 'One Country, Two Systems' framework, provides a solid foundation for this innovative initiative.
In 2023, Australia and Hong Kong had a total trade value of US$5.3 billion[1]. Total exports from Hong Kong to Australia amounted to US$3.4 billion, with the bulk of re‑exported goods originating from mainland China. Hong Kong's imports from Australia in 2023 amounted to US$1.9 billion worth of Australian merchandise, including agricultural produce, seafood, and beverages. Looking ahead, Hong Kong aims to drive growth in emerging industries such as biomedical technology, green energy, and financial technology.
Sean Lee, Co-Founder of IDA, emphasized the significance of this partnership: "This collaboration builds on the progress made in bilateral trade relationships. Recent diplomatic efforts between Hong Kong, China, and Australia have reduced trade barriers, creating an ideal environment for innovative solutions like stablecoins to modernize trade systems. The potential for stablecoin technology to enhance efficiency and unlock opportunities across industries is enormous."
Effie Dimitropoulos, CEO of AUDC Pty Ltd, expressed her enthusiasm for the initiative: "At AUDC Pty Ltd, our mission is to deliver secure and compliant digital payment solutions to support global trade. Our Australian Dollar-backed stablecoin, AUDD, addresses inefficiencies in cross-border trade, offering businesses in Australia, Hong Kong, and beyond a faster and more transparent settlement mechanism. This collaboration is a pivotal step toward modernizing trade settlements and unlocking new growth opportunities for industries on both sides."
[1] HKTDC Research: https://research.hktdc.com/en/article/MzM0NDE0OTM3 |
About IDA Finance Hong Kong Limited (IDA)
IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.
IDA will launch a stablecoin product which is designed to drive enhanced connectivity of digital currency for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating stablecoins will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.
To maximize the network effect of the stablecoin project for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption, and widespread acceptance of stablecoins as a payment and settlement digital currency.
More information can be found at idafi.xyz / LinkedIn / X
About AUDC Pty Ltd
AUDC Pty Ltd is a pioneering fintech company dedicated to transforming the future of money through blockchain technology. The company powers the Australian Digital Dollar (AUDD), a stablecoin backed 1:1 by the Australian Dollar, designed to provide businesses and consumers with a stable, reliable, and globally accessible digital asset. With a strong focus on innovation and digital finance solutions, AUDC is committed to driving the next generation of financial technology.
For more information about AUDD, please visit:
https://audd.digital
https://www.linkedin.com/company/audd-digital
SOURCE IDA
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