ZA Global, a digital finance company from Hong Kong, has led a $40 million funding round (Series A2) for the fintech company RD Technologies (RD).
This strategic milestone accelerates the development of a regulated stablecoin ecosystem and next-generation Web3 financial infrastructure in Hong Kong, ZA Global said in a statement on Wednesday.
ZA Global, the main investor in this round, believes strongly in RD Technologies’ long-term future and its plans for regulated stablecoins.
This investment not only gives RD important financial support but also shows ZA Global’s commitment to helping build a trusted and innovative digital finance center in Hong Kong.
As part of the deal, ZA Bank — the digital bank owned by ZA Global — has signed a new agreement with RD. This builds on their partnership from last year, when ZA Bank started providing reserve banking services to RD.
Now, ZA Bank plans to work even more closely with RD in two main areas: custodial infrastructure and distribution.
For custodial infrastructure, ZA Bank will continue to help RD store and manage the assets backing its stablecoins, improving trust and transparency.
For distribution, ZA Bank wants to become a seller of compliant stablecoins, supporting the launch of new digital asset solutions.
“As regulatory clarity and demand for compliant stablecoin
solutions continue to grow, our partnership with RD marks a milestone in aligning innovation with compliance,
“Together, we are shaping a secure and regulated digital finance ecosystem for Hong Kong and the wider region,” ZA Global President Wayne Xu said.
ZA Global is the international arm of ZhongAn Online P&C Insurance, a digital-only insurance company from China.
Founded in Hong Kong in 2017, ZA Global focuses on innovation and growing its presence in the global fintech and insurtech markets.
The company has partnered with major players like SoftBank Vision Fund and Grab to expand across Asia, offering a variety of tech-driven financial services.
Its digital bank, ZA Bank, launched in 2020 as Hong Kong’s first and largest virtual bank. ZA Insure, a joint venture with Fubon Life Insurance (Hong Kong), operates under a special license for virtual insurers granted by Hong Kong’s Insurance Authority.
More recently, ZA Global has moved into the Web3 space by teaming up with top digital asset platforms like HashKey.
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