With Hong Kong Dollar Support Ida raised $6,000,000 stable coins

IDA Raises $6 Million to Launch Hong Kong Dollar-Backed Stablecoin

IDA Raises $6 Million to Launch Hong Kong Dollar-Backed Stablecoin  1 min read  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…


1 min read


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

stablecoin definition

Stablecoins are a type of digital asset designed to maintain a stable value, pegged to either cryptocurrencies or fiat money. In many popular stablecoins, the price is stable because the creator of the stablecoin guarantees users can convert the stablecoin 1:1 with the native currency or asset.

Popular stablecoins include Tether (USDT) and USD Coin (USDC), which are collateralized 1:1 with the US dollar. This means that one USDC or USDT is equal to one US dollar. There are also stablecoins designed to have the same value as the rupiah currency, namely Rupiah Token (IDRT) which is the first rupiah-valued stablecoin.

Not only limited to fiat money or commodities such as gold, some stablecoins are collateralized with other crypto assets to keep their prices stable. An example is Dai which is programmed to have the same value as the US dollar, but with collateral from other crypto assets such as ETH, USDC, Paxos, Yearn and many more.

Source : pintu
MasRap
MasRap 24 Tahun 1999, Menulis Di Blog Sejak 2022

Post a Comment for "With Hong Kong Dollar Support Ida raised $6,000,000 stable coins"