• Before the regulation of the license, RD Technologies managed to raise 40 million dollars.
• A strategic alliance has been established with ZA Bank in the stablecoin arena

New funding of $40 million has been acquired by the Hong Kong-based financial technology firm RD Technologies. The Series A2 funding takes place just one day prior to the start of stablecoin license regulation in Hong Kong. The rule will take effect on August 1st.

The firm was established in 2020 and has been promoting innovation in stablecoins in the city. The new capital will be used to strengthen the digital currency infrastructure and increase the levels of asset tokenization. The most important keyword that refers to the brand’s regulatory aspirations is stablecoin.

H. Capital spearheaded this round of funding, which also included ZA Global, China, H., and B. Venture. Guotai Junan International Private Equity Fund and a few other big names were also a part. This investment follows last year’s Series A1, which acquired the sum of 7.8 million dollars.

Strategic Partnerships Ignite Stablecoin Race

RD Technologies and ZA Bank, an affiliate of ZA Global, have just formalized their partnership through a memorandum of understanding. Together, both plan to push compliant stablecoin solutions. They will target such use cases as reserve asset custody and distribution.

Regulatory approval will be central to their next steps. According to an RD Technologies spokesperson, this collaboration with ZA Bank marries the visions we have of rapid, safe, and regulated digital finance.

Rita Liu, the CEO of the company, said in a statement to PR Newswire that the transaction was a way of expressing its confidence in the company to support the next generation of digital currency transactions.

August 1 marks the official launch of Hong Kong’s stablecoin legislation. Around fifty businesses have shown interest, with names like Ant International and JD.com among them. At this time, all issuers are certified by the Hong Kong Monetary Authority (HKMA).

New Capital Boosts Stablecoin Infrastructure

The capital will be used by RD Technologies to provide more stablecoin and digital asset services. The product is a mobile wallet and is aimed at enterprises that deal with domestic and international payments in different currencies. 

RD promises its institutional and retail users stability and security by pegging the stablecoin HKDR to the Hong Kong dollar.

Investments reflect wider momentum in the digital asset sector. The shares of Guotai Junan International rose by 400 percent following the approval of crypto services. Such regulatory indicators have also enabled ZA Global to reward its backers with high returns.

RD Technologies was established by the former chief of the Hong Kong Monetary Authority, Norman Chan, and it is headed by Rita Liu as its CEO. According to Liu, our objective is to bridge the gap between the traditional and digital realms of finance in order to provide businesses with more trust and efficiency.

The vision of RD Technologies is now in line with policy changes in one of the big finance centers in Asia. The quick development and partnerships of the company present an insight into the new reality of controlled digital currencies in Hong Kong.