Foresight News reported that East Asia Bank announced a partnership with Hong Kong fintech company IDA to explore the feasibility of widespread adoption of digital finance with a 1:1 HKD-pegged stablecoin. Both parties will collaborate with a local payment network to explore an application case that can simplify payment processes and enhance user experience. East Asia Bank will act as the reserve bank and authorized minting entity to ensure compliance with regulatory frameworks while promoting fintech innovation.