To develop stablecoin infrastructure in Asia, ZA Global leads RD Technologies’ $40 M Series A2 round

Fintech company RD Technologies (RD) has raised $40 million in a Series A2 funding round led by Hong Kong-based digital finance company ZA Global.

According to a statement released by ZA Global on Wednesday, this strategic milestone speeds up the creation of a regulated stablecoin ecosystem and next-generation Web3 financial infrastructure in Hong Kong.

ZA Global’s participation as the primary investor demonstrates its deep belief in RD’s long-term prospects and vision in the regulated stablecoin market.

In addition to offering vital financial support, this calculated investment shows ZA Global’s dedication to creating a cutting-edge, compliant digital financial center in Hong Kong.

Building on their foundational partnership in reserve banking services, which was established last year, RD and ZA Bank, ZA Global’s digital banking subsidiary, have inked a memorandum of understanding (MOU) in conjunction with the funding.

With the new contract, ZA Bank and RD will work together even more closely in two important areas: distribution partnership and custodial infrastructure.

To strengthen trust and transparency in stablecoin issuance, ZA Bank will keep growing its custodial infrastructure support for reserve asset custody requirements.

Regarding the potential introduction of digital asset solutions, ZA Bank also states its intention to become a distributor of compliant stablecoin.

“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.

The international division of ZhongAn Online P & C Insurance, a Chinese insurtech company that operates exclusively online, is called ZA Global.

With a focus on promoting innovation and strategic expansion in the global fintech and insurtech markets, ZA Global was founded in Hong Kong in 2017.

With alliances with international organizations like SoftBank Vision Fund and Grab, the business has expanded its reach throughout Asia by offering a variety of technologically advanced financial services.

As the first and biggest digital bank in Hong Kong, its subsidiary ZA Bank opened for business in 2020. Meanwhile, ZA Insure, a joint venture with Fubon Life Insurance (Hong Kong) Company Limited, functions under a virtual insurer license provided by the Hong Kong Insurance Authority’s Fast Track program.