Hong Kong-based Digital Asset Clearing Center (DACC) has raised USD 10 million from strategic investors, including Conflux, Transaction Technologies Limited (TTL), and Global InfoTech, to develop financial market infrastructure for the tokenised economy. Additional investors in the round include Fosun International, Blockstone, Avior Capital, Fintec World, Satoshi Ventures, and BridgeTower.
DACC's platform is designed to provide clearing and settlement services for tokenised assets, connecting blockchain networks with traditional payment infrastructure, including China's Cross-Border Interbank Payment System (CIPS). The company positions its offering as a Clearing-as-a-Service (CaaS) model for financial institutions seeking to integrate digital and tokenised assets into mainstream capital markets.
Platform capabilities and investor roles
DACC operates as an Open Banking platform for banks, providing stablecoin payments, tokenised deposit rails, KYC and AML compliance, and distributed ledger technology wallet integration alongside traditional banking and digital exchange services. The platform is designed to connect Hong Kong's financial infrastructure to China's payment systems and serve international markets.
Each strategic investor contributes operational capabilities to the ecosystem alongside capital. Conflux is integrated with DACC to provide end-to-end tokenisation solutions on blockchain infrastructure. TTL focuses on regulated banks and broker-dealers, enabling digital asset integration within established trading environments. Global InfoTech provides banking solutions that connect to leading payment systems across China.
Co-founder and chairwoman Serra Wei noted that the company's approach was to integrate traditional fintech infrastructure into Web3, to bring digital tokens into mainstream markets.
Hong Kong as a regulatory base
Larry Li, director at DACC and former chief executive of Swift North Asia, said Hong Kong's regulatory maturity, financial depth, and international connectivity made it the appropriate base for globally scalable infrastructure. Li mentioned that the company was anticipating the upcoming Securities and Futures Commission virtual asset custody licence in Hong Kong as a further regulatory development supporting the platform's positioning.
Market context
Traditional bank transfers continue to dominate the cross-border payments market, estimated at USD 214 trillion, but tokenised finance is attracting growing institutional attention as an alternative to slow settlement cycles, high transaction costs, fragmented data systems, and regulatory barriers. The integration of blockchain-based clearing with established correspondent banking and payment rail infrastructure, rather than replacing existing systems, represents an approach increasingly adopted by infrastructure providers seeking to work within regulatory frameworks rather than outside them.
DACC's positioning at the intersection of Hong Kong's financial markets and China's payment infrastructure reflects the city's continued role as a bridge between mainland Chinese capital and international financial systems, a function that has taken on renewed significance as tokenised asset markets develop and regulatory frameworks for digital assets mature across the Asia-Pacific region.
