RD Technologies Secures $40M Series A2 to Fuel Stablecoin Development Ahead of Hong Kong Licensing Deadline

RD Technologies, a Hong Kong-based fintech startup founded by former Hong Kong Monetary Authority (HKMA) chief Norman Chan, has secured $40 million in a Series A2 funding round to advance its stablecoin development efforts. The investment, led by ZA Global, China Harbour International Finance, Bright Venture Capital, and U.S. fund Hivemind Capital Partners, also attracted participation from HongShan Capital and Guotai Junan International’s private equity fund [1]. The funding follows a $7.8 million Series A1 round in September 2024 and brings the company’s total capital to date to over $47.8 million. The proceeds will accelerate the startup’s push for a stablecoin issuer license in Hong Kong, as the city prepares to enforce new regulations requiring such licenses starting August 1 [1].

RD Technologies plans to leverage the capital to expand its digital currency infrastructure, focusing on cross-border transactions and asset tokenization. The firm has partnered with ZA Bank, the virtual banking arm of ZA Global, to explore stablecoin applications in financial services such as reserve asset custody. The startup’s existing mobile wallet for enterprises already supports multi-currency payments and foreign exchange, positioning it to integrate stablecoins into its ecosystem [1].

The funding round reflects growing institutional interest in Hong Kong’s crypto regulatory framework, which has drawn over 50 applicants for stablecoin licenses, including Ant International and JD.com. RD Technologies joined the HKMA’s stablecoin regulatory sandbox in 2024 to test use cases like cross-border payments, enhancing its regulatory readiness [1]. The startup’s leadership team, including CEO Rita Liu—formerly head of Alipay’s U.K. unit—brings expertise in fintech innovation and global compliance.

Hong Kong’s evolving crypto landscape has already spurred market gains for firms like Guotai Junan International and ZhongAn Online P&C Insurance, which saw stock surges following regulatory approvals for crypto services and the passage of the stablecoin bill. This trend aligns with broader investor optimism, fueled by Bitcoin’s record high of $123,000 in July and the city’s ambition to become a regional hub for digital finance [1].

The funding underscores a strategic pivot toward stablecoin infrastructure in Asia-Pacific markets, where demand for efficient cross-border payment solutions remains high. RD Technologies’ roadmap includes refining its stablecoin platform and scaling enterprise-grade services, while adhering to Hong Kong’s licensing requirements. The startup’s success in securing backing from both mainland Chinese and U.S. investors highlights the cross-border collaboration driving the sector’s growth.

Source:

[1] Forbes (https://www.forbes.com/sites/zinnialee/2025/07/30/hongshan-backed-hong-kong-fintech-startup-raises-40-million-to-advance-stablecoin-plan/)