HONG
KONG, Sept. 30, 2024 /PRNewswire/ -- RD
Technologies announced the successful completion of its Series A1
financing, securing US$7.8
million. In this funding round, RD Technologies has
secured strategic investments from prominent industry players like
HongShan, Hivemind Capital, Aptos Labs, Hash Global,
SNZ Capital, Solana Foundation, Anagram, and Upward
Capital. The capital injection will enable RD
Technologies to continue building a financial platform that bridges
the Web2 and Web3 worlds and continue to contribute to the
development of the Web3 ecosystem in Hong Kong.
RD Technologies announced on 18th July
2024 that its subsidiary, RD InnoTech Limited, has been
admitted to the stablecoin issuer sandbox of the Hong
Kong Monetary Authority (HKMA). Among the first batch of entities
to join the sandbox, RD Technologies is set to test its operational
plan for its Hong Kong Dollar stablecoin within the
HKMA sandbox. RD Technologies' other subsidiary, RD Wallet
Technologies Limited, has been granted a Stored Value Facility
(SVF) license issued by the HKMA and has officially commenced
operations at the end of 2023. Leveraging the platforms and
capabilities of its subsidiaries, RD Technologies is able to build
a trusted and compliant financial platform and network.
This Series A1 financing marks a notable achievement following
RD Technologies' seed round completed in 2020. RD Technologies has
consistently garnered strong support from its initial stakeholders,
including ZhongAn Digital Asset Group Limited (ZhongAn Digital
Asset), HashKey Group, Dragonfly, Bright Venture, and Eminent
Vision. This brings strong ecological support to RD Technologies,
such as HashKey Exchange, a regulatory-compliant trading platform,
Web3 infrastructure including HashKey Chain, as well as ZhongAn
Digital Asset's custody and asset management capabilities. Relying
on the support of shareholders with strong backgrounds in both Web2
and Web3, as well as an experienced team, RD Technologies aims to
bridge the gap between Web2 and Web3 and promote Hong Kong's establishment as a leading global
Web3 hub.
"The legacy payment industry is ripe to be disrupted using
blockchain technology and stablecoins to provide more efficient and
cheaper cross-border payment networks. Hong Kong is leading the world in virtual
asset regulation. We are confident that compliant and transparent
stablecoins will invigorate the market and address the pain points
of traditional payments and finance to bring in institutions and
help Hong Kong become a global
Web3 hub", said Rita Liu, CEO of
RD Technologies.
Stanley Huo, Partner and Head
of Asia at Hivemind, said,
"Hivemind is thrilled to support RD Technologies as they seek to
lead the future of stablecoins and cross-border payments. We
believe regulated stablecoins are a critical growth area in
crypto, offering real product-market fit, particularly
as global demand for regulated stablecoins rises among enterprises
and institutions. In our view, RD Technologies' strategic
positioning - led by an experienced team under Dr. Norman Chan and Ms. Rita
Liu, with the strong support from the key Web3 stakeholders
in Hong Kong - uniquely equips
them to be a dominant force in Asia's evolving financial landscape."
– Ends –
About RD Technologies:
RD Technologies Group (RD
Technologies) is the financial platform that bridges
the Web2 and Web3 worlds. It deploys innovative fintech to build a
business world interconnected by trust. Based in Hong Kong and connected with the global
community, RD Technologies was born out of a mission to enable
businesses to gain easier access to financial services, enhance
trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre.
For details: https://rd.group
Compliant and innovative
solutions managed by subsidiaries under RD Technologies
include:
RD Wallet Technologies Limited (RD Wallet) is a licensed Stored
Value Facility in Hong Kong
(licence number: SVF0016). It enables global businesses to open
multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet
is committed to facilitating cross-border trade and payments
through efficient and innovative
payment solutions for businesses, and contributing to the
development of Hong Kong as a
trade and financial hub in Asia.
For details about RD Wallet: https://rd.group/products/wallet/
HKDR Stablecoin (HKDR) is
a trusted Hong Kong
Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly
liquid assets safekept in segregated custody accounts with licensed
financial institutions. Details of the reserves will be available
to the public through regular independent attestation reports.
In July 2024, RD InnoTech
Limited, the issuer of HKDR, was among the first batch of entities
to be admitted to the stablecoin issuer sandbox by the
Hong Kong Monetary Authority. RD InnoTech Limited will
abide stringently by the regulatory requirements for the
launch of HKDR to contribute to the continuous development of
Hong Kong as a global Web3 and
virtual asset hub. For details about HKDR:
https://rd.group/hkdr
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SOURCE RD Technologies