Yuanbi Technology has raised $7.8 million in Series A1 funding
On July 18, 2024, Yuan Coin Technology announced that its subsidiary, Yuan Coin Innovation Technology Limited, has been included in the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. As one of the first institutions to join the sandbox, Yuan Coin Technology will soon test its Hong Kong dollar stablecoin operational plan within the HKMA sandbox. Meanwhile, another subsidiary of Yuan Coin Technology, Yuan Coin Wallet Technology Limited, has been granted a Stored Value Facility (SVF) license by the HKMA and will officially commence operations by the end of 2023. Leveraging the platforms and capabilities of its subsidiaries, Yuan Coin Technology is actively building a trustworthy and compliant financial platform network.(Hong Kong - September 30, 2024) Round Coin Technology announced the completion of a $7.8 million A1 round of financing. In this round of financing, Round Coin Technology received strategic investments from well-known industry players such as Sequoia China, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. This financing will enable Round Coin Technology to connect the Web2 and Web3 worlds and continue contributing to the development of the Web3 ecosystem in Hong Kong.
On July 18, 2024, Round Coin Technology announced that its subsidiary, Round Coin Innovation Technology Limited, has been included in the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. As one of the first institutions to join the sandbox, Round Coin Technology will soon test its Hong Kong dollar stablecoin operational plan within the HKMA sandbox. At the same time, another subsidiary of Round Coin Technology, Round Coin Wallet Technology Limited, has obtained a Stored Value Facility (SVF) license issued by the HKMA and will officially operate by the end of 2023. With the platforms and capabilities of its subsidiaries, Round Coin Technology is actively building a trustworthy and compliant financial platform network.
This A1 round of financing marks another significant advancement for Round Coin Technology following its seed round financing in 2020. Round Coin Technology has consistently received strong support from original shareholders such as ZhongAn Digital Asset Group Limited (ZhongAn Digital Asset), HashKey Group, Dragonfly, Bright Venture, and Eminent Vision. This has brought strong ecological support to Round Coin Technology, including Hashkey's global compliant trading platform, Web3 infrastructure including Hashkey Chain, and the custody and asset management capabilities of ZhongAn Digital Asset. With the backing of shareholders who have deep backgrounds in both Web2 and Web3, as well as an experienced team, Round Coin Technology looks forward to truly connecting Web2 and Web3, promoting Hong Kong as a global Web3 hub.
Round Coin Technology's CEO Liu Yu stated: "The traditional payment industry is facing a great opportunity to be disrupted by blockchain technology and stablecoins, which will enable a more efficient and cost-effective cross-border payment network. Hong Kong is leading the world in virtual asset regulation, and we firmly believe that compliant and transparent stablecoins will inject vitality into the market, address the pain points of traditional payments and finance, and attract more institutions to participate, thereby helping Hong Kong become a global Web3 hub."
Hivemind partner and Asia head Horden Jin stated: "We are very pleased to support Round Coin Technology in continuing to lead the future of stablecoins and cross-border payments. We believe that compliant stablecoins are a key growth area for cryptocurrencies, especially as global enterprises and institutions increasingly demand regulated stablecoins, which can provide true product-market fit. In our view, Round Coin Technology's strategic positioning, combined with the leadership of Dr. Chen Delin and Ms. Liu Yu, along with strong support from major Web3 industry players in Hong Kong, is sufficient for Round Coin Technology to dominate the evolving financial landscape in Asia."
About Round Coin Technology:
Round Coin Technology Group (Round Coin Technology) is a financial platform that connects Web2 and Web3, utilizing innovative financial technology to build a trustworthy and interconnected business world. Based in Hong Kong and targeting a global market, Round Coin Technology assists enterprises in using financial services in a more convenient and cost-effective manner, enhancing trade efficiency, and promoting Hong Kong's development as an Asian trade hub and international financial center.
Learn more: ++https://rd.group++
Innovative and secure solutions managed by subsidiaries of Round Coin Technology include:
Round Coin Wallet:
Round Coin Wallet Technology Limited (Round Coin Wallet) is a licensed institution for Stored Value Facilities (SVF) in Hong Kong (license number: SVF0016), allowing global enterprises to open accounts remotely via mobile phones anytime and anywhere, supporting multiple fiat currencies. Round Coin Wallet is committed to providing efficient, secure, and innovative payment solutions to promote Hong Kong's development as an Asian trade hub and international financial center.
Learn more: ++https://rd.group/wallet++
HKDR Stablecoin (HKDR):
The HKDR stablecoin (HKDR) is a reliable and transparent stablecoin, pegged 1:1 to the Hong Kong dollar, with reserves composed of high-quality and highly liquid assets, which will be securely held in independent custody accounts at regulated financial institutions. The public can access details of the reserves through regularly published independent certification reports. The issuing entity of HKDR, Round Coin Innovation Technology Limited, became one of the first institutions to participate in the HKMA's stablecoin issuer sandbox in July 2024, and Round Coin Innovation Technology Limited will rigorously comply with the regulatory requirements for issuing HKDR, contributing to the ongoing development of Hong Kong as a global hub for Web3 and virtual currencies.
Learn more: ++https://rd.group/hkdr++
