Golden Finance reports that Hong Kong digital asset company IDA has announced a strategic partnership with Japanese banking group Progmat, as well as blockchain company Datachain and cross-chain infrastructure provider TOKI FZCO, to jointly develop a proof of concept (PoC) for cross-border application scenarios based on stablecoins between Hong Kong and Japan. It is reported that the relevant stablecoins will be used under the compliance requirements of Hong Kong's regulatory framework, priced in Japanese Yen and Hong Kong Dollars. IDA had previously collaborated with East Asia Bank to explore the feasibility of widely adopting digital finance with a 1:1 Hong Kong Dollar pegged stablecoin.

Odaily Planet Daily News Bank of East Asia announced a partnership with the Hong Kong financial technology company IDA to explore the feasibility of widespread adoption of digital finance with a 1:1 Hong Kong dollar pegged Stable Coin. It is reported that the two parties will work together with a local Payment Network to explore an application scenario that can simplify payment processes and enhance user experience. Bank of East Asia will act as a reserve bank and authorized coin issuer to ensure compliance with regulatory frameworks while promoting financial technology innovation. This collaboration aims to explore integrating Stable Coin into payment and Settlement infrastructure to drive the local economy and improve commercial cash flow. Through this experiment, introducing Stable Coin for instant transactions, improving merchants' cash flow, and providing 24/7 service with minimal transaction fees.

Golden Finance reported that IDA, the stablecoin issuer in Hong Kong, announced a strategic partnership with Zand Bank, the first fully licensed and fully digital bank in the United Arab Emirates, aiming to achieve the Belt and Road Initiative and BRICS.

Golden Finance reported that IDA, the issuer of Hong Kong's stablecoin, announced the integration of Chainlink to enhance the transparency of the Hong Kong dollar stablecoin (HKDA). It is reported that IDA plans to use Chainlink's tokenization asset standard services, including Chainlink Proof of Reserve (PoR) for asset collateral verification and Chainlink Cross-Chain Interaction protocol for secure data and value movement across chains.

1. Stablecoin issuer IDA completed a $6 million seed round financing, led by CMCC Global; 2. Pencils Protocol completed a new round of strategic financing with a valuation of $80 million, with participation from Bing Ventures, etc.

On February 21, Reuters market analyst Haruya Ida said that the continued weak Japanese economic data suggests that the Japanese Central Bank may continue to maintain ultra-loose policy after Long adjusting policy in April expected by market watchers. Given Japan's current technical recession, the Central Bank is likely to wait for Q1 2024 GDP data before starting a policy shift. The market seems to be focused on Japan's inflation outlook, but for the Central Bank, economic growth is just as important. This scenario may even emerge after the salary negotiations that began in April. Inflation is expected to rise sharply, but it is uncertain at this time.

Analyst Haruya Ida said that the comments of five BOJ officials over the past week confirmed that the ultra-loose policy could continue until the first quarter of 2024 and possibly even into the second quarter.