With Hong Kong Dollar Support Ida raised $6,000,000 stable coins
IDA Raises $6 Million to Launch Hong Kong Dollar-Backed Stablecoin
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IDA Raises $6 Million to Launch Hong Kong Dollar-Backed Stablecoin
IDA has raised $6 million in seed funding to develop its first fiat-referenced stablecoin, HKDA. Major players, including Hashed and CMCC Global’s Titan Fund, are backing the project. The company aims to launch the HKDA mainnet by the end of 2024.
Hong Kong-based digital asset company IDA has successfully raised $6 million in seed funding, with major support from blockchain investor CMCC Global’s Titan Fund and Hashed. The investment propels IDA towards the launch of its regulated fiat-referenced stablecoin, the Hong Kong Dollar Anchor (HKDA).
IDA aims to empower businesses by bridging the gap between traditional Web2 systems and the emerging Web3 ecosystem. HKDA is designed to streamline trade and payments between Hong Kong and global markets, simplifying cross-border trade payments. Each token will be fully backed by at least 100% of reserve assets held in regulated Hong Kong institutions.
IDA has partnered with key industry players to streamline the minting, redemption and use of HKDA across multiple platforms. The seed funding round saw the…
Source : CMC
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