RD Wallet Technologies Granted SVF License by the HKMA

The Hong Kong Monetary Authority announced that it has granted a stored value facility (SVF) licence to RD Wallet Technologies Limited (RDWT) under the Payment Systems and Stored Value Facilities Ordinance. The granting of this SVF licence takes effect today (19 December 2022).  The SVF licence number is SVF0016.

The former chief executive of the Hong Kong Monetary Authority, Norman Chan, launched Round Dollar Wallet Technologies, a fintech firm focused on cross-border payments. 

RD Wallet Technologies allows payments and transfers between RD wallet holders on a real-time basis. The firm offers services that include a digitized customer onboarding platform, a real-time intra wallet system, and an anti-money laundering system.

According to its plan, RDWT intends to launch its business starting with soft launch followed by official commencement of services. RDWT will announce more details when the exact timeline is determined.

According to the register of SVF licensees, there are 13 non-bank SVF licensees (including RDWT) and 4 licensed banks issuing SVFs.