RD Technologies
RD Technologies is a Hong Kong-based financial technology group founded in 2020 that develops digital financial infrastructure to connect traditional finance (Web2) with decentralized Web3 ecosystems. The company focuses on two primary business areas: corporate cross-border payments and the development of a regulated stablecoin. [1] [2]
Overview
Founded by Norman Chan, the former chief executive of the Hong Kong Monetary Authority (HKMA), RD Technologies aims to build enterprise-grade infrastructure for cryptocurrency transactions and asset tokenization. The company operates with a strong emphasis on regulatory compliance, actively engaging with Hong Kong's financial authorities. [2]
In September 2025, the group underwent a strategic brand enhancement to separate its core operations into two distinct, independently managed business segments. The first, OristaPay, is dedicated to cross-border payment solutions for corporate clients. The second, RD InnoTech Limited, focuses on stablecoin innovation and supporting the evolution of Hong Kong's regulatory framework for digital assets. This restructuring was designed to unlock the potential of each business line while maintaining a synergistic development strategy. [3] [4]
The company has attracted significant investment from venture capital firms and strategic partners to fund its development, particularly its efforts to secure a stablecoin issuer license under Hong Kong's regulatory regime. Its participation in the HKMA's stablecoin sandbox positions it among a select group of entities testing their technology within the official framework. [5]
History
RD Technologies was founded in 2020 by Norman Chan. [1] In its early stages, the company focused on developing a multi-currency payment platform and a digital identity verification solution to streamline corporate onboarding. [6]
In February 2024, the company announced it was exploring the launch of a Hong Kong Dollar stablecoin, named HKDR. As part of this exploration, it revealed a potential collaboration with HashKey Exchange, a licensed virtual asset trading platform, and Allinpay International, a payment company, to investigate the integration of stablecoins into online and offline payment services. [7]
A significant milestone occurred in July 2024, when RD Technologies was admitted into the Hong Kong Monetary Authority’s (HKMA) Stablecoin Issuer Sandbox. This allowed the company to test its stablecoin technology within a controlled regulatory environment. [6] [2]
The company secured its Series A1 funding round of $7.8 million in September 2024. [2] This was followed by a larger Series A2 round in July 2025, where it raised approximately $40 million to further develop its stablecoin ecosystem and Web3 financial infrastructure. Coinciding with the funding announcement, RD Technologies signed a Memorandum of Understanding (MoU) with ZA Bank to deepen their collaboration on reserve asset custody and potential stablecoin distribution. [8]
On September 29, 2025, RD Technologies Group announced a major corporate restructuring, launching the brand "OristaPay" for its cross-border payment business and formally separating it from its stablecoin innovation arm, RD InnoTech Limited. [3]
Corporate Structure and Brands
As of September 2025, RD Technologies Group operates through two independently managed business segments. [9]
OristaPay
OristaPay is the group's cross-border payment brand, positioned as a next-generation payment infrastructure provider for corporate clients. It focuses on delivering secure, compliant, and efficient payment solutions. OristaPay's services include:
- Fiat wallet and payment services
- Digital payment and custody services
The brand operates through licensed subsidiaries of the group. Fiat payment services are managed by RD Wallet Technologies Limited, which holds a Stored Value Facility (SVF) license from the HKMA. Digital payment and custody services are provided by RD Escrow, a licensed Trust or Company Service Provider (TCSP). [3]
RD InnoTech Limited
RD InnoTech is the entity focused on stablecoin development and regulatory engagement. It operates independently from OristaPay and is responsible for the group's participation in the HKMA's Stablecoin Issuer Sandbox. The entity is dedicated to supporting the evolution of Hong Kong’s regulatory framework for stablecoins and engaging in compliant fintech innovation. [4]
Technology and Products
RD Technologies develops financial infrastructure aimed at bridging traditional and decentralized finance.
Payment Platform
The company's payment platform, now operating under the OristaPay brand, is a multi-currency business account designed for global enterprises. Initially known as RD Wallet, it was the first business-focused mobile wallet of its kind in Hong Kong. The platform supports transactions in multiple currencies, including HKD, CNY, USD, JPY, and EUR, and features mobile-only onboarding for businesses. [10]
RD ezLink
RD ezLink is a customer due diligence (CDD) utility designed to facilitate remote onboarding and manage ongoing compliance for corporate clients. It allows businesses to create a reusable, bank-standard Know Your Customer (KYC) profile, referred to as a "Corporate ID," to streamline applications at various financial institutions. The system was developed in accordance with Hong Kong's banking regulatory standards. [6]
Stablecoin Development (HKDR)
Through RD InnoTech, the company is developing a Hong Kong Dollar-pegged stablecoin named HKDR. The project is being tested within the HKMA's regulatory sandbox, with a focus on use cases such as cross-border payments and settlements. The development is aligned with Hong Kong's stablecoin legislation, which came into force in 2025 and imposes stringent compliance rules, including a requirement to identify every stablecoin holder. The company plans to apply for a stablecoin issuer license from the HKMA. [5] [2]
Funding
RD Technologies has completed two major funding rounds to support its growth and product development.
Series A2
On July 30, 2025, the company announced it had raised approximately $40 million in a Series A2 round. The round was co-led by ZA Global, China Harbour, Bright Venture, and Hivemind Capital. Other participating investors included HSG (HongShan Capital Group), Eternal Digital, CMSC Partners, and the private equity fund of Guotai Junan International. The funds were allocated to the development of its regulated stablecoin ecosystem and Web3 financial infrastructure. [1] [2]
Series A1
In September 2024, RD Technologies raised $7.8 million in its Series A1 funding round. Investors in this round included HSG (HongShan Capital Group), Hivemind Capital, and Aptos Labs, a blockchain startup founded by former Meta employees who worked on the Diem stablecoin project. [2]
Team
The leadership team of RD Technologies includes figures with extensive experience in finance, regulation, and technology.
- Norman Chan is the Founding Chairman of RD Technologies. He previously served as the Chief Executive of the Hong Kong Monetary Authority (HKMA) from 2009 to 2019. [2]
- Rita Liu is the Chief Executive Officer (CEO) of RD Technologies Group. Before joining the company, she was the CEO of Alipay's U.K. unit. [2]
Partnerships and Regulatory Engagement
RD Technologies actively collaborates with regulatory bodies and strategic partners in the financial industry.
Hong Kong Monetary Authority (HKMA)
The company maintains a close working relationship with the HKMA. It is one of three entities selected for the initial phase of the HKMA's stablecoin sandbox, alongside a joint venture involving Standard Chartered, HKT, and Animoca Brands, and JD Coinlink, a subsidiary of JD.com. This participation is a key part of its strategy to obtain a stablecoin issuer license under Hong Kong's new regulatory framework. [5]
ZA Bank and ZA Global
RD Technologies has a strategic partnership with ZA Bank, Hong Kong's largest digital bank, and its parent company, ZA Global. ZA Global was a lead investor in the company's $40 million Series A2 funding round. Following the investment, RD Technologies and ZA Bank signed an MoU to collaborate on stablecoin applications. The partnership focuses on ZA Bank providing custody solutions for the reserve assets backing the HKDR stablecoin and exploring the potential for distributing the stablecoin through its channels, pending regulatory approval. [8]
Wayne Xu, President of ZA Global, commented on the partnership:
“As regulatory clarity and demand for compliant stablecoin solutions continue to grow, our partnership with RD marks a milestone in aligning innovation with compliance. Together, we are shaping a secure and regulated digital finance ecosystem for Hong Kong and the wider region.” [8]
Other Collaborations
The company has engaged in industry events and partnerships to promote its vision. In April 2025, it co-hosted the PayFi Summit at the Web3 Festival in Hong Kong alongside Wanxiang Blockchain and HashKey. The event brought together participants from firms such as Solana, Paxos, and HSBC to discuss blockchain-powered payments and stablecoins. [11] The company also has a wide network of partners that use or recommend its payment and onboarding solutions, including The Bank of East Asia, Standard Chartered Bank, OSL, and Tiger Brokers. [10]