IDA is a Hong Kong-based digital asset technology company co-founded by CEO Lawrence Chu and CSO Sean Lee. Its first product is HKDA, a fiat-referenced stablecoin built on public blockchain protocols and designed to be regulated in Hong Kong. HKDA is intended to enable 24/7/365 commerce and payments between Hong Kong and global markets. IDA is partnering with industry players to facilitate minting, redemption, and widespread acceptance of HKDA as a payment and settlement digital currency. In subsequent phases the company plans to launch products denominated in other USD-pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms. Financially, IDA raised USD6M in a seed round to advance development and launch of HKDA.

Total raised

$6M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2024