Bank of East Asia announced that it will cooperate with Hong Kong fintech company IDA to explore the feasibility of widespread adoption of digital finance with a stablecoin pegged to 1:1 Hong Kong dollars. It is reported that the two parties will work with a local payment network to explore an application case that can simplify the payment process and improve user experience. Bank of East Asia will act as a reserve bank and authorized minter to ensure compliance with the regulatory framework while promoting financial technology innovation. This cooperation aims to explore the integration of stablecoins into payment and settlement infrastructure to promote the local economy and improve business cash flow. Through this trial, the introduction of stablecoins will enable instant transactions, improve merchants' cash flow, and provide 24/7 services with the lowest transaction fees. (Hong Kong 01)