RD Technologies, a Hong Kong-based fintech startup, has raised USD 40 million from investors as it seeks to obtain a local stablecoin issuer licence.
The Series A2 round was led by ZA Global, part of mainland Chinese insurer ZhongAn Online P&C Insurance, Chinese investment firms China Harbour International Finance and Bright Venture Capital, as well as U.S. digital asset-focused fund Hivemind Capital Partners. Other investors who joined the round include HSG (HongShan Capital Group) and the private equity fund of Chinese state-backed brokerage Guotai Junan International.
The newly acquired funding will allow the company to optimise the digital currency transactions and asset tokenization through a secure, enterprise-grade infrastructure. As part of the financing round, the startup also partnered with ZA Bank, a virtual bank subsidiary of ZA Global, to explore stablecoin applications in financial services such as reserve asset custody.
RD Technologies’ latest funding round comes as the startup plans to apply for a stablecoin issuer licence in Hong Kong. Starting 1 August 2025, the city will implement new stablecoin regulation requiring issuers of fiat-pegged cryptocurrencies to obtain a licence from the Hong Kong Monetary Authority (HKMA).
This round follows a previous Series A1 funding of USD 7.8 million in September 2024, bringing total capital to over USD 47.8 million. The capital injection will help RD Technologies further develop a financial platform that bridges the Web2 and Web3 worlds and contribute to the development of the Web3 ecosystem in Hong Kong. RD Technologies joined the HKMA’s stablecoin regulatory sandbox program in 2024 to test the cryptocurrency in applications such as cross-border payments and settlements.
Important regulatory rules
Starting from 1 August 2025, Hong Kong will enforce a complete stablecoin licensing system. The Stablecoin Ordinance aims to establish a regulatory framework for fiat-backed stablecoins, which could make it challenging for issuers to fulfil their obligations. It also requires that tokens must be fully backed by high-quality, liquid reserve assets to ensure their stability. Additionally, issuers are required to comply with AML and CFT regulations, which include verifying the identity of token holders.
