PANews reported on November 8 that according to CoinDesk, Layer 1 blockchain Flare and Red Date Technology announced two pilots that allow mainland Chinese residents traveling to Hong Kong to access tokenized financial services through local applications and will use China's real-name decentralized ID system (RealDID) for anonymous registration. The pilot will allow users to anonymously register on regulated stablecoin applications, purchase stablecoins issued by Hong Kong virtual asset company IDA and trade.