With Hong Kong set to launch a stablecoin licensing system, local stablecoin developer Yuanbi Technology announced the completion of its Series A2 financing, securing approximately $40 million in funding. This funding will be used to build a stablecoin ecosystem that meets regulatory requirements, is safe and reliable, and has broad application prospects.

This round of financing attracted participation from well-known investment institutions such as ZhongAn International, Zhongwan International, Sequoia China, and Hivemind Capital. Investors are optimistic about Yuan Coin Technology's ability to build a bridge between traditional finance and Web3, helping traditional enterprises enter the new generation of digital finance.

The CEO of Yuan Coin Technology, Liu Yu, stated that this financing is timely. With the official implementation of the Hong Kong stablecoin licensing system on August 1, the company is fully prepared to align with the new policy. In the future, Yuan Coin Technology will focus on technology upgrades, expanding international partnerships, and optimizing product services, while promoting the globalization strategy of stablecoins.

It is worth noting that Circle Tech has reached a strategic cooperation agreement with ZhongAn Bank. Both parties will jointly explore how to apply stablecoins in financial services within a compliance framework, including areas such as reserve custody and distribution.

The HKDR stablecoin launched by Yuan Coin Technology uses a 1:1 peg mechanism to the Hong Kong dollar, with its asset reserves held by regulated institutions to ensure transparency and security. Currently, HKDR has entered the stablecoin regulatory sandbox of the Hong Kong Monetary Authority for testing.

With the increasingly clear regulatory environment and the growing market demand, this financing by Round Coin Technology will undoubtedly accelerate the development of the Hong Kong stablecoin ecosystem and pave the way for the future of digital finance.