Yuanbi Technology Completes $7.8 Million Series A1 Financing, with Sequoia China, Solana Foundation and Others Participating

According to official news, Yuanbi Technology announced the completion of a US$7.8 million A1 round of financing, with participation from Sequoia China, Hivemind Capital, Aptos Lab, Hash Global, SNZ Capital, Solana Foundation, Anagram and Upward Capital. Yuanbi Technology said that this round of financing will connect the company to the Web2 and Web3 worlds and continue to contribute to the construction of Hong Kong's Web3 ecosystem. According to reports, on July 18, 2024, Yuanbi Technology announced that its subsidiary Yuanbi Innovation Technology Co., Ltd. has been included in the Hong Kong Monetary Authority (HKMA)'s Stablecoin Issuer Sandbox Program. At the same time, Yuanbi Technology's other subsidiary, Yuanbi Wallet Technology Co., Ltd., has obtained a stored value payment facility (SVF) license issued by the HKMA and will officially operate at the end of 2023. This A1 round of financing is another important progress for Yuanbi Technology after its seed round of financing in 2020. Yuanbi Technology has been supported by original shareholders including ZhongAn Digital Asset Group Co., Ltd., HashKey Group, Dragonfly, Bright Venture and Eminent Vision. This has brought multi-faceted ecological support to Yuanbi Technology, including Hashkey's global compliant trading platform, Web3 infrastructure including Hashkey Chain, and ZhongAn Digital Assets' custody and asset management capabilities.