RD Technologies Secures $40 Million in Series A2 Funding
RD Technologies has successfully secured nearly $40 million in its Series A2 funding round, spearheaded by Zhongan International and a roster of investors that includes Zhongwan International, Radiant Venture Capital, and Hivemind Capital. Notable participants in this latest round also feature Sequoia China, Immutable Capital, Matrixport, and Guotai Junan International Private Equity Fund.
With these funds, RD Technologies aims to enhance its enterprise-grade stablecoin infrastructure, reinforcing its role as a leader in compliant stablecoin solutions within Hong Kong’s burgeoning financial landscape.
Strategic Cooperation with Zhongan Bank
Simultaneously, Zhongan Bank has entered into a strategic cooperation agreement to investigate the use of stablecoins in regulated financial services, indicating a growing interest in cryptocurrency applications from traditional banking institutions.
RD Technologies is no stranger to the stablecoin conversation, having previously engaged in the Hong Kong Monetary Authority’s stablecoin sandbox pilot and releasing the HKDR stablecoin, which is pegged to the Hong Kong Dollar at a 1:1 ratio.
Building on Previous Success
This recent funding builds on RD Technologies’ prior success, where it raised $7.8 million in a Series A1 financing round back in September, with that round led by Sequoia, Hivemind Capital, and other significant investors including Aptos Labs and the Solana Foundation.
The current Series A2 funding will empower RD Technologies to further its mission of constructing a financial ecosystem that effectively bridges the gap between Web2 technology and the emergent Web3 innovations, thus playing a vital role in the evolution of Hong Kong’s Web3 ecosystem as a whole.
