According to Odaily Planet Daily, stablecoin issuer IDA has raised $6 million in a seed round of financing led by CMCC Global, with participation from its Titan Fund and Hashed.
The capital injection will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which is designed to be regulated in Hong Kong.
Other participants in this round of financing include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ and Yolo Investments, as well as well-known angel investors such as Solana co-founder Raj Gokal.
