based on materials from the site - By Coincu
September 29, 2023, in Hong Kong, RD Technologies launched OristaPay, a new brand for cross-border payments. The platform is managed by RD Wallet Technology Limited and has a Stored Value Facility license.
OristaPay emphasizes compliance with regulatory requirements in the fintech sector, offering secure and efficient international payments without impacting the activity of major cryptocurrencies and blockchain.
OristaPay is becoming the new brand for cross-border payments from RD Technologies. The platform is managed by RD Wallet Technology Ltd. (RDWT) and uses a Stored Value Facility (SVF) license for conducting fiat payments. RD Escrow complements these offerings by providing licensed digital payment services and escrow services.
This launch marks a strategic alignment in providing a secure, innovative, and compliant solution. The focus is on raising compliance standards in cross-border payment systems, which potentially paves the way for future technological integration. With its entry into the Hong Kong financial sector, OristaPay positions itself as a regulated infrastructure player in the payment industry.
Despite the significance of the launch, the response from major industry players and government bodies has been minimal. Communication channels such as official social media and blogs of key leaders remain silent on this event. The lack of public statements suggests a more subdued perception within the broader financial community.
OristaPay's compliance with Hong Kong's financial regulatory standards resonates with similar initiatives, such as the pilot project of the ZA Bank stablecoin. These steps often lead to strengthened compliance strategies in the region.
According to CoinMarketCap, Ethereum (ETH) is trading at $4,118, with a market capitalization of $497.06 billion. Ethereum's market dominance is 12.88%. In the last 24 hours, the trading volume amounted to $25.69 billion, increasing by 2.94%. Over the past 90 days, the price of Ethereum has risen by 65.94%.
Researchers at Coincu believe that the creation of OristaPay may signify a shift towards closer integration of stablecoins within Hong Kong's regulatory framework. As noted by one industry expert, "compliance with SVF licenses indicates the potential of the digital payment sector, fostering the creation of secure and innovative financial solutions for enterprises."
