Stablecoin Issuer IDA Secures $6 Million in Seed Funding

According to Odaily, stablecoin issuer IDA has successfully raised $6 million in a seed funding round led by CMCC Global. The funding round also saw participation from Titan Fund and Hashed. This financial boost will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which aims to be regulated in Hong Kong. Other notable participants in this funding round include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments. Additionally, prominent angel investors such as Solana co-founder Raj Gokal also contributed to the round. The investment is expected to significantly bolster IDA's efforts in the stablecoin market, particularly in the regulatory landscape of Hong Kong.