TechFlow News — Officially announced, Yuanbi Technology has completed a $7.8 million Series A1 funding round with participation from Sequoia China, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. This funding will enable Yuanbi Technology to bridge the Web2 and Web3 worlds and continue contributing to the development of Hong Kong’s Web3 ecosystem.
On July 18, 2024, Yuanbi Technology announced that its subsidiary, Yuanbi Innovation Technology Limited, has been accepted into the Hong Kong Monetary Authority’s (HKMA) Stablecoin Issuer Sandbox Programme. As one of the first institutions admitted into the sandbox, Yuanbi Technology is set to test its Hong Kong dollar-pegged stablecoin operations within the HKMA sandbox environment. Meanwhile, another subsidiary, Yuanbi Wallet Technology Limited, has already obtained a Stored Value Facilities (SVF) license from the HKMA and officially commenced operations by the end of 2023. Leveraging the platforms and capabilities of its subsidiaries, Yuanbi Technology is actively building a trusted and compliant financial platform network.
