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

According to official information, Yuanbi Technology announced the completion of a $7.8 million Series A1 financing round, with investments from Sequoia China, Hivemind Capital, Aptos Lab, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. Yuanbi Technology stated that this round of financing will connect the company to the Web2 and Web3 worlds, and continue to contribute to the construction of the Hong Kong Web3 ecosystem. According to the introduction, on July 18, 2024, Yuanbi Technology announced that its subsidiary Yuanbi Innovation Technology Limited has been included in the Hong Kong Monetary Authority (HKMA)'s stablecoin issuer sandbox program. At the same time, Yuanbi Technology's another subsidiary, Yuanbi Wallet Technology Limited, has obtained the HKMA-issued Stored Value Facility (SVF) license and will officially operate by the end of 2023. This A1 round of financing is another important progress for Yuanbi Technology after its seed round financing in 2020. Yuanbi Technology has been supported by its original shareholders, including Zhongan Digital Asset Group Limited, HashKey Group, Dragonfly, Bright Venture, and Eminent Vision, which has brought multi-dimensional ecological support to Yuanbi Technology, including HashKey's global compliant trading platform, Web3 infrastructure including HashKey Chain, and Zhongan Digital Asset's custody and asset management capabilities.