Look who’s raising some serious cash just ahead of Hong Kong’s new stablecoin licensing regime. RD Technologies, a Hong Kong-based fintech firm, just bagged a cool $40 million in its Series A2 funding round. With the new stablecoin licensing rules set to roll out on August 1, RD's timing couldn’t be more perfect.
The funding round was led by a mix of old and new investors: hello, ZA Global, China Harbour, Bright Venture, and Hivemind Capital. Oh, and don’t forget about HSG, Eternal Digital, CMSC Partners, and Guotai Junan International Private Equity Fund getting in on the action. That’s a pretty star-studded crew.
RD Technologies Partners with ZA Bank to Explore Regulated Stablecoin Use
RD Technologies, which has been around since 2020, is deep in the stablecoin game. The company’s been part of a stablecoin sandbox from the Hong Kong Monetary Authority (HKMA), and now it’s gearing up to launch HKDR, a stablecoin that’s going to be pegged 1:1 with the Hong Kong dollar. It’s almost like a stablecoin party, and RD's the host.
With Hong Kong’s stablecoin licensing regime kicking in soon, this funding round is all about making sure RD is ready to roll. Starting August 1, issuers of fiat-referenced stablecoins will need to get licensed by the HKMA, and RD is wasting no time.
But that’s not all; RD’s also signed a partnership with ZA Bank, a Hong Kong-based virtual bank. Together, they plan to explore regulated stablecoin use cases in financial services, including asset custody and potential distribution channels for RD's upcoming stablecoin. It’s all dependent on regulatory approval, but things are looking promising.
And hey, if RD Technologies is making moves, so are other crypto players in Hong Kong. OSL Group, for example, just announced it secured a massive $300 million in equity financing to push its global expansion. Looks like Hong Kong’s crypto scene is about to get a lot more interesting.

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