Layer 1 blockchain Flare and decentralized cloud infrastructure company Hongzao Technology have announced the launch of two pilot projects in Hong Kong that will allow mainland residents to purchase stablecoins issued by virtual asset firm IDA. The first pilot will allow users to register anonymously on a regulated stablecoin application, while the second pilot will promote the use of stablecoins to purchase tokenized financial products. Both pilots will use the mainland's real-name decentralized identity system (RealDID) for anonymous registration.