RD Technologies Secures $7.8 Million In Series A1 Funding

According to Foresight News, RD Technologies has successfully raised $7.8 million in its Series A1 funding round. The investment was led by Sequoia China, Hivemind Capital, Aptos Lab, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. The funds will be used to bridge the gap between Web2 and Web3 and to further develop the Web3 ecosystem in Hong Kong. Previously, on July 18, RD Technologies announced that its subsidiary, RD Innovation Technology Co., Ltd., had been included in the Hong Kong Monetary Authority's (HKMA) sandbox program for stablecoin issuers. Within this sandbox, RD Technologies will test its Hong Kong dollar stablecoin operation plan. Additionally, another subsidiary, RD Wallet Technology Co., Ltd., has received a Stored Value Facility (SVF) license from the HKMA and is set to begin operations by the end of 2023.