ZA Global has led a US$40 million series A2 funding round for RD Technologies.

ZA Global is the international business arm of ZhongAn Online P&C Insurance Co. Ltd., a China-based online-only insurtech firm operating in Hong Kong.

The investment aims to support the development of a regulated stablecoin ecosystem and Web3 financial infrastructure in Hong Kong.

ZA Bank, a digital banking subsidiary of ZA Global, has signed a memorandum of understanding with RD Technologies to expand collaboration in custodial infrastructure and stablecoin distribution.

ZA Bank will continue to provide reserve asset custody services and may act as a distributor for compliant stablecoins.

The companies previously established a partnership for reserve banking services in 2023.

ZA Global’s president, Wayne Xu, said that the partnership aligns with the increasing demand for regulated digital finance solutions in the region.