Yuancoin Technology has completed a $7.8 million A1 round of financing, with participation from Sequoia China and others

According to official sources, Yuan Coin Technology announced the completion of a $7.8 million Series A1 funding round. In this round of financing, Yuancoin Technology has received strategic investments from well-known industry players such as Sequoia China, Hivemind Capital, Aptos Lab, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. Yuancoin 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 Web3 ecosystem in Hong Kong. It is reported that on July 18, 2024, Yuan Coin Technology announced that its subsidiary Yuan Coin Innovation Technology Co., Ltd. has been included in the stablecoin issuer sandbox program of the Hong Kong Monetary Authority (HKMA). Meanwhile, another subsidiary of Yuan Coin Technology, Yuan Coin Wallet Technology Co., Ltd., has obtained a stored value payment tool (SVF) license issued by the Hong Kong Monetary Authority and will officially operate by the end of 2023. This A1 round of financing is another important development for Yuancoin Technology after its seed round financing in 2020. Yuancoin Technology has always received support from original shareholders such as Zhong'an Digital Asset Group Co., Ltd., HashKey Group, Dragonfly, Bright Venture, and Emident Vision.