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RD Technologies Raises $40M for Hong Kong Dollar #Stablecoin Launch
#HongKong fintech firm RD Technologies has secured $40 million in Series A2 funding ahead of the region's new stablecoin licensing regime.
The round was led by ZA Global, China Harbour, Bright Venture, and Hivemind Capital.
RD Technologies has been developing HKDR, a stablecoin backed 1:1 by the Hong Kong dollar through the HKMA's regulatory sandbox.
The funding comes just days before Hong Kong's mandatory stablecoin licensing framework takes effect on Aug. 1.
A new partnership with virtual bank ZA Bank will explore regulated #stablecoin use cases in financial services and potential distribution channels.
The move positions RD Technologies among the first wave of licensed stablecoin issuers in Hong Kong's evolving digital asset ecosystem.
