The Hong Kong Monetary Authority announced today that it 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.

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.