ChainCatcher news, according to official sources, YuanCoin Technology announced the completion of a $7.8 million A1 round of financing. In this round of financing, YuanCoin 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. YuanCoin Technology stated that this round of financing will connect the company to the Web 2 and Web3 worlds and continue to contribute to the construction of the Hong Kong Web3 ecosystem.It was introduced that on July 18, 2024, YuanCoin Technology announced that its subsidiary YuanCoin Innovation Technology Limited has been included in the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. At the same time, another subsidiary of YuanCoin Technology, YuanCoin Wallet Technology Limited, has obtained a Stored Value Facility (SVF) license issued by the HKMA and will officially operate by the end of 2023. This A1 round of financing marks another important progress for YuanCoin Technology following its seed round financing in 2020. YuanCoin Technology has consistently received support from original shareholders such as ZhongAn Digital Asset Group Limited, HashKey Group, Dragonfly, Bright Venture, and Eminent Vision.