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IDA, a Hong Kong-based Fiat-referenced Stablecoin Issuer, Raised USD6 Million Seed Round Led by CMCC Global and Hashed

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HONG KONG, Sept. 2, 2024 /PRNewswire/ — IDA, a premier Hong Kong-based digital asset company, has raised USD6 million in a seed funding round led by prominent blockchain investors CMCC Global, under its Titan Fund, and Hashed. This 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.

Additional participants in this round also include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments as well as notable angel investors, such as Raj Gokal, Co-founder of Solana.  Aside from providing funding, leading blockchain foundations of Solana, Polygon, Aptos, and Mantra are also IDA’s strategic blockchain partners to foster HKDA’s interoperability, accessibility, resilience, and liquidity.

“With the current total stablecoins market cap around USD170 billion, we expect stablecoins to grow over USD3 trillion in the next 5 years.  This exponential growth will underscore the increasing significance of stablecoins in the broader digital currency landscapes.  Thus, IDA’s mission is to facilitate more effective and efficient cross-border trades through the blockchain for everyone,” said Lawrence Chu, Co-founder and CEO of IDA.

Sean Lee, Co-founder and CSO of IDA added, “the first goal of IDA is to enable mass adoption and empower businesses to seamlessly integrate between Web2 and Web3. To achieve this, IDA has begun active engagements with the Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB), as well as domestic partners in the ecosystem, to issue regulated stablecoins in Hong Kong. HKDA, our first fiat-referenced stablecoin built on public blockchains, will shortly be heading onto testnet. We intend for our mainnet launch before the end of this year and achieve regulatory clarity in early 2025.”

CMCC Global, one of Asia’s first VC funds focused purely on blockchain and cryptocurrency, is thrilled to lead this funding round and partner with IDA to push the boundaries in Web3 space. “As a Hong Kong-based company, we are excited to support innovative Web3 companies like IDA that are leveraging blockchain finance and stablecoins to create solutions addressing real-world challenges,” said Martin Baumann, Co-founder and Managing Partner of CMCC Global.

Hashed, a global early-stage venture fund focused on backing founders who are pioneering the future of blockchain and cryptocurrency, also shares the same vision as IDA. “We anticipate wider mainstream adoption of stablecoins in real-world trades and settlements. With Hong Kong’s position as Asia’s financial hub and its recent push for a stablecoin legislative framework, we expect IDA to spearhead the coming changes. Their unique blend of expertise in traditional finance and blockchain technology positions them perfectly to bridge conventional and digital financial systems, potentially reshaping finance across Asia and beyond,” said Ryan Kim, Founding Partner at Hashed.

Starting initially in Hong Kong, IDA will leverage the forefront of fintech and Web3 to reach other countries whose currency is also pegged to the USD. Over time, IDA aims to share their innovations and grow their business to other nations along the Belt and Road and Global South initiatives.  More exciting partnerships will be announced to unlock a more inclusive and connected global marketplace.

Note: The current total stablecoins market cap is based on the data provided by defillama.com at 18:00 HKT on 2024-08-26.

About IDA Finance Hong Kong Limited (IDA)

IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.   

HKDA, a fiat-referenced stablecoin built on public blockchain protocols, will be the first product launched by IDA.  HKDA is designed to drive enhanced digital connectivity for seamless commerce and payments between Hong Kong and global markets, 24/7/365.  To maintain the highest level of security and stability, all circulating HKDA will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.   

To maximize the network effect of HKDA for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of HKDA as a payment and settlement digital currency.   In subsequent phases, IDA will also launch key products denominated in other US Dollar (USD) pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms. 

More information can be found at www.idafi.xyz / LinkedIn / X 

About CMCC Global & Titan Fund

CMCC Global is one of Asia’s first venture capital companies focused solely on blockchain and Web3 investments. CMCC Global has an enviable record of investing early in leading projects such as Ethereum (ETH) at USD7, Solana (SOL) at USD0.20 and Cosmos (ATOM) at USD0.10. CMCC Global has reached assets under management (AUM) of over USD500 million across its funds and is known as a high-conviction investor. Today the company has offices in Asia, North America and Europe and operates several funds with different strategies including the CMCC Global Digital Asset Fund, the Titan Fund and its two funds of quantitative trading hedge funds Crest and SYZCrest.

More information can be found at www.cmcc.vc

Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A/B along the key investment verticals of Infrastructure, Fintech and Consumer Applications.  The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and digital assets since 2016, and its Crest family of funds that invests into crypto and quant funds.

More information can be found at www.titan.fund 

About Hashed

Founded by a team of serial entrepreneurs and engineers in 2017, Hashed is the preeminent blockchain firm in Asia with a portfolio that spans the globe. We started Hashed because we saw an opportunity for blockchain to not only reinvent the global financial system, but the very fabric of the internet itself. This is one of the most consequential moments in human history — an opportunity to overlay the power of digital networks onto human ones, and to usher in a future where technology empowers individuals, and not the other way around.

More information can be found at www.hashed.com

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SOURCE IDA

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XTransfer Export PMI: Emerging Markets Drive Growth, High-End Upgrading Opportunities Stand Out

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GUANGZHOU, China, April 20, 2026 /PRNewswire/ — XTransfer, the World’s Leading B2B Cross-Border Trade Payment Platform, released its latest figures at the 139th China Import and Export Fair (Canton Fair). In the first quarter of this year, emerging markets across Asia, Africa, and Latin America accounted for 73% of XTransfer’s inbound cross-border payment collections, with 45% increase year-on-year. Collections from Africa, Latin America, and Southeast Asia increased 115%, 97%, and 18% year-on-year, respectively, highlighting growing demand among exporters for secure and efficient cross-border collection channels.

According to statistics from the China General Administration of Customs, emerging markets in Asia, Africa, and Latin America have become a key driver of export growth. However, underdeveloped local financial infrastructure, incomplete cross-border payment systems, and shortages of foreign exchange mean buyers often struggle to access U.S. dollars. As a result, exporters in these markets frequently face low settlement efficiency, slow cash recovery, and risks such as account freezes.

To address these collection challenges, XTransfer has developed a comprehensive set of cross-border collection solutions. In 2025, payment collections from emerging markets in Asia, Africa, and Latin America rose 106% year-on-year. By region, collections increased 273% in Africa, 82% in Southeast Asia, and 94% in Latin America.

Over the same period, customs statistics show that in 2025, China’s total goods exports to Asia, Africa, and Latin America increased 14.6% year-on-year, with exports to Africa, Southeast Asia, and Latin America up 26.6%, 14%, and 8%, respectively. XTransfer’s significantly faster growth in collections compared with export growth suggests exporters are accelerating the shift from informal channels to secure, compliant collection methods, and that market recognition of high-quality cross-border payment services continues to rise.

Bill Deng, Founder and CEO of XTransfer, said emerging markets offer long-term opportunities for Chinese exporters, but many are held back by the “last mile” of collections. He added that XTransfer is committed to helping SMEs collect funds safely and quickly through secure, compliant, and efficient cross-border financial services comparable to those used by multinational companies.

Release of XTransfer PMI

At the Canton Fair, XTransfer partnered with the Yicai Research Institute to publish the “China Small and Medium Enterprises (B2B) Merchandise Export Purchasing Manager Index” (XTransfer Export PMI), offering operational guidance and decision-making reference for small and micro export-oriented businesses.

This edition draws on a sample survey of XTransfer’s 800,000 SME users, selecting over 3,000 companies nationwide. It covers the full export process across export orders, pricing, procurement, logistics, staffing, and cash flow. The report shows that the March 2026 XTransfer PMI was 51.56%, indicating export conditions for SMEs are generally improving. Despite a complex external environment, SMEs have remained resilient and steadily strengthened their pricing power in international markets. Meanwhile, demand structures in emerging markets are reshaping, with export focus shifting toward intermediate goods and higher value-added products.

Resilience Amid Geopolitical Disruptions

Customs data show that in the first quarter, China’s goods exports reached RMB 6.85 trillion, up 11.9% year-on-year, marking a strong start to the year and benefiting SMEs. The XTransfer PMI also shows expansion in the export order index (53.85) and the export price index (56.15). While seasonal factors like the Spring Festival affected the short term, the underlying “volume and price rising together” trend suggests SMEs are accelerating their shift from “low-price internal competition,” strengthening pricing power through technology upgrades and improved quality.

Geopolitical disruptions have also extended delivery times, pushing the logistics time PMI down to 37.50. In contrast, the sales collection (receivables) index rose to 68.59, showing a pattern of “goods moving slower, money returning faster”. This suggests overseas buyers remain strongly tied to China’s high-quality supply chain and are willing to raise prepayment ratios or shorten payment terms to secure capacity. One exhibitor, Mr Wang, said, “A Southeast Asian customer increased its deposit from 30% to 70% to lock in production, worried our capacity would be booked by others.”

Emerging Markets Demand Trends Toward “High-End” Upgrading

The report highlights a shift toward higher-end demand in emerging markets. Africa’s export orders index (57.55) points to rising infrastructure-related demand; Latin America’s export orders index (56.47) and price index (57.81) signal opportunities in electromechanical and optical medical equipment; and Southeast Asia is absorbing components and semi-finished goods, calling for SMEs to move from finished-goods suppliers to supply-chain partners.

As industrialisation accelerates in emerging markets, demand for high-quality intermediate goods, complete electromechanical equipment, and technical services is rising. SMEs are moving from “low-end capacity exports” to “exports of technology and supply chain support”.

The composite PMI for the “New Three” (new energy vehicles, photovoltaics, and lithium batteries) was 54.59. The “New Three” sectors continue to hold growth potential, and enterprises need to enhance profit margins by delivering differentiated value.

 

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SOURCE XTransfer

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BingX Reports Strong Q1 2026 Growth as AI Users Surpass 5 Million and TradFi Hits 50% of Volume

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Q1 2026 Highlights:

BingX launched the TradFi Market, delivering a multi-asset suite of stocks, indices, commodities, and forex, with over 100 traditional assets on offer.BingX TradFi was integrated with BingX’s full ecosystem of perpetual futures, copy trading, VIP, AI tools and more, with its trading volume peaking at a 50% share in Q1.BingX AI surpassed 5 million users in Q1, with over 57 million cumulative queries resolved.AI Claw and AI Skills Hub joined BingX AI in Q1, offering real-time trading signals and new ways to interact with markets.BingX VIP updated “Access More. Go Further.” mission, enhancing accessibility, performance, and rewards for advanced users.BingX VIP saved users over $700,000 in trading fees.

PANAMA CITY, April 20, 2026 /PRNewswire/ — BingX, a leading cryptocurrency exchange and Web3-AI company, today released its Q1 2026 review, highlighting momentum across its AI-driven, Tradfi ecosystem. The quarter was defined by the launch of the BingX TradFi Market and continued expansion of the BingX AI suite, alongside strong user feedback to its VIP program enhancements.

In Q1, BingX officially launched its TradFi Market, marking a significant step in bridging traditional finance and crypto trading. The platform now supports over 100 TradFi assets across commodities, forex, stocks, and indices. At its peak during the quarter, TradFi trading accounted for 50% of BingX’s total volume, reflecting strong user demand for diversified markets within a unified trading environment. Fully integrated across the BingX ecosystem, TradFi capabilities extend into perpetual futures, copy trading, AI-powered tools, and VIP benefits, enabling users to manage their trading efficiently through one platform.

BingX continued to advance its position as the first AI-native crypto exchange, with two key products launched in Q1: BingX AI Claw and the BingX AI Skills Hub. AI Claw delivers real-time, cross-validated trading signals with explainable insights, while the AI Skills Hub introduces a new interaction layer through AI agents capable of executing trades, analyzing markets, and managing accounts using natural language. Adoption of BingX AI surpassed a total of 5 million users in Q1, with over 57 million queries resolved, underscoring users’ growing reliance on AI-driven trading support.

BingX VIP also saw strong growth through the “Access More. Go Further.” update, improving accessibility, performance, and rewards for advanced users. $1.4 million airdrops has been delivered, while optimized execution mechanisms helped users save over $700,000 in trading fees. With expanded entry pathways, enhanced benefits, and integration across both crypto and TradFi markets, BingX VIP continues to evolve as a comprehensive premium trading ecosystem.

About BingX

Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.

Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.

BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.

For more information, please visit: https://bingx.com/

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SOURCE BingX

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Ontinue Opens New Headquarters in Zurich, Strengthening Commitment to European Growth and Innovation

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New Office Reflects Continued Investment in Talent, Customers, and Security Excellence Across DACH and Beyond

ZURICH, April 20, 2026 /PRNewswire/ — Ontinue, a leading provider of nonstop managed security operations through its Agentic SOC, today announced the opening of its new headquarters in Zurich, Switzerland, located at Grubenstrasse 54, 8045 Zurich. This new office represents a significant milestone in Ontinue’s continued expansion across Europe and reinforces its long-term commitment to delivering exceptional security outcomes for customers globally.

The opening of the Zurich headquarters reflects Ontinue’s position of strength and accelerating momentum, driven by rising demand for a new agentic security operations model built for scale, speed, and trust. As organizations face growing complexity across their digital environments, Ontinue continues to invest in regional expertise, world-class talent, and operational excellence to support customers where they are.

“Zurich has always been an important hub for Ontinue, and this new headquarters marks the next chapter in our growth,” said Moritz Mann, CEO of Ontinue. “We are investing in exceptional talent and creating an environment where our teams can continue to innovate, collaborate, and deliver meaningful outcomes for our customers. This expansion underscores our commitment to Europe and our belief in the opportunity to lead the future of security operations on a global scale.”

Ontinue’s presence in Zurich brings together a highly skilled team spanning security operations, threat intelligence, detection engineering, AI engineering, customer success, sales, and marketing. This proximity between human defenders and AI engineering teams is foundational to Ontinue’s Agentic SOC approach, enabling faster innovation, deeper context, and continuous improvement across customer environments. The new office is designed to foster deeper collaboration across these functions, enabling Ontinue to continue delivering its signature approach to managed security, combining advanced AI with human expertise to stop threats and reduce risk in customer environments.

As part of its European growth strategy, Ontinue is focused on helping organizations modernize their security operations by moving beyond traditional SOC models that struggle with scale, noise, and complexity. The Zurich headquarters will serve as a central hub for innovation and customer engagement, supporting Ontinue’s ongoing investment in agentic security operations where intelligent automation and human judgment operate as one system.

Ontinue’s Agentic SOC service, powered by its ION SecOps Platform, enables organizations to move beyond reactive security models by delivering proactive threat detection investigation, response, and continuous posture improvement. By combining AI and automation with expert human defenders, Ontinue helps customers reduce noise, accelerate response times, and reduce risk by strengthening their overall security posture.

The opening of the new headquarters further strengthens Ontinue’s ability to scale its operations while maintaining the high-touch, customer-centric approach that has become a hallmark of its service.

For more information about Ontinue and its ION SecOps Platform, visit www.ontinue.com.

About Ontinue

As a leading provider of AI-powered managed agentic SOC services, Ontinue is on a mission to be the most trusted security partner, empowering customers to embrace and accelerate digital transformation while reducing risk. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.

Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.

Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.

Ontinue Media Inquiries
Alison Raymond
Senior Director, Corporate Communications
araymond@ontinue.com 

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