Blockchain Press Releases
IDA, a Hong Kong-based Fiat-referenced Stablecoin Issuer, Raised USD6 Million Seed Round Led by CMCC Global and Hashed
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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Equity Insider News Commentary
Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, April 2, 2025 /PRNewswire/ — Equity Insider News Commentary – Artificial Intelligence (AI) is quickly becoming a major force in healthcare, as use of AI applications in medical fields is growing rapidly. Researchers at Dartmouth recently conducted the first clinical trial of a therapy chatbot powered by generative AI (genAI), and found that it resulted in significant improvements in participants’ symptoms. Cleveland Clinic and UAE-based G42 recently started collaborating on the advancement of even more AI in healthcare adoption, signalling an international push in this revolution. Because of this, the market is paying even more attention to developers in tech that are adding tools to the mix, with recent updates coming from Avant Technologies, Inc. (OTCQB: AVAI), Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Spectral AI, Inc. (NASDAQ: MDAI), and GE HealthCare Technologies Inc. (NASDAQ: GEHC).
The article continued: Billionaire Bill Gates recently predicted that he thinks AI will make medical advice free and commonplace, changing healthcare at a rapid pace along the way. Private company Layer Health just raised a fresh $21 million to take on Healthcare AI’s scalability challenges, with investment from Define Ventures, Flare Capital Partners, GV and MultiCare Capital Partners.
Avant Technologies Partner, Ainnova, to Sponsor and Present at 2025 Healthcare Innovation Summit in Mexico City
Avant Technologies, Inc. (OTCQB: AVAI), an emerging leader in AI-driven healthcare innovation, continues to build momentum in the AI-driven healthcare sector through its joint venture with Ainnova Tech, developers of the Vision AI platform. Today, the two companies announced that Ainnova will sponsor and present at the 2025 Mexico Healthcare Innovation Summit—an international event focused on digital transformation and diagnostics.
Ainnova’s CEO, Vinicio Vargas, will present on preventative healthcare powered by artificial intelligence, highlighting the practical impact of its Vision AI platform on early disease detection, which the company recently began designing the clinical trial protocols for ahead of a pre-submission meeting with the US Food and Drug Administration (FDA).
Vargas’s appearance at the event reinforces a consistent strategy for Avant and Ainnova: increasing visibility across key international markets ahead of major regulatory milestones to come.
It also follows Ainnova’s recent strategic alignment with Apollo Hospitals in Southeast Asia, where the Vision AI platform has been cleared for commercial deployment in Brazil, and clinical pilots are being prepared across the Americas.
As previously mentiond, Ainnova is being guided by global CRO Fortrea ahead of the important pre-submission meeting with the FDA. The goal is to seek 510(k) clearance for Vision AI in detecting diabetic retinopathy, a gateway to broader use across multiple chronic disease categories.
Avant and Ainnova jointly control Ai-nova Acquisition Corp. (AAC), which holds global licensing rights to the technology portfolio, including proprietary retinal cameras and algorithms validated on more than 2.3 million clinical data points.
Between FDA progress, high-profile alliances, and a growing international presence, Avant Technologies continues to carve out a niche in the convergence of AI, diagnostics, and preventative care. Investors looking for small-cap exposure to the healthcare AI revolution may want to keep AVAI on the radar as these developments unfold.
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Apple Inc. (NASDAQ: AAPL) is reportedly working on an AI-driven health coach, under the codename Project Mulberry, as a revamped version of its Health app. For a while now, CEO Tim Cook has been promising that Apple’s long-term plans include a big push into more health-related technologies.
According to Bloomberg’s Mark Gurman, Apple could launch this as early as next year alongside a future iOS update. The service would give users tips on diet and exercise, using data from the Health app and Apple devices like the Apple Watch.
It’s still unclear whether this tool will act more like a real medical assistant or just a health and wellness coach. Gurman describes it as an “AI doctor service,” and the report says it’s being trained using real data from doctors and medical professionals. The service might be called Health Plus and could become a major part of Apple’s growing services business.
Amazon.com, Inc. (NASDAQ: AMZN) is pushing deeper into genAI itself, including testing health assistants with a chatbot tool focused on health and wellness, called Health AI, which can answer health and wellness questions, “provide common care options for health care needs,” and suggest products.
Already, Amazon’s shopping chatbot, Rufus, can suggest products like ice packs and ibuprofen. Where Health AI goes further will be in providing users with medical guidance and care tips, such as how to deal with flu or cold symptoms. Health AI also steers users to Amazon’s online pharmacy, along with clinical services offered by One Medical, the primary care provider it acquired for roughly $3.9 billion in 2022.
Spectral AI, Inc. (NASDAQ: MDAI) recently announced strong results from its Burn Validation Study, showing that its DeepView® System outperformed burn physicians in identifying non-healing tissue.
“We believe these are excellent results and we are thrilled with the analysis of our DeepView System in our Burn Validation Study,” said Dr J. Michael DiMaio, M.D. “The DeepView System exceeded our expectations in terms of predictive performance. Following the FDA’s review, if authorized by the agency, our hope is that this tool will provide an objective and immediate prediction of non-healing burn tissue to expedite patient care and reduce system costs across the board. We look forward to bringing this predictive diagnostic tool to the United States marketplace as soon as possible.”
The study, one of the largest of its kind in the U.S., demonstrated DeepView’s superior accuracy using AI and multispectral imaging to assess burn wounds on day one. The company plans to submit the data to the FDA by mid-2025, aiming for De Novo Clearance and rapid commercialization.
GE HealthCare Technologies Inc. (NASDAQ: GEHC) recently unveiled its new Revolution™ Vibe CT system, featuring advanced AI-powered cardiac imaging that delivers fast, accurate scans—even in complex cases like atrial fibrillation or heavy coronary calcification. The system’s Unlimited One-Beat Cardiac imaging and AI-driven workflow aim to improve diagnostic speed, patient comfort, and operational efficiency across healthcare facilities.
“Expanding access to CCTA is crucial for managing the rising prevalence of CVD, ensuring timely and accurate diagnoses for a larger patient population,” shares Jean-Luc Procaccini, President and CEO, Molecular Imaging and Computed Tomography, GE HealthCare. “Our introduction of Revolution Vibe underscores our commitment to this mission. The system is designed to encourage the broader adoption of and access to cardiac imaging, combining advanced technology with AI-powered solutions to deliver fast, accurate diagnoses and a more comfortable patient experience. It is designed to empower healthcare providers to offer the highest quality care, even in the most challenging cases.”
With FDA-recommended CCTA adoption on the rise and cardiac disease still the leading global cause of death, Revolution Vibe is designed to expand access to life-saving imaging and reduce reliance on invasive procedures.
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TORONTO, April 2, 2025 /PRNewswire/ — APX Lending is pleased to announce the Canadian Securities Administrators (CSA) have issued a first-of-its kind decision, granting the company exemptive relief from certain registration and prospectus requirements, dated April 1, 2025 (https://www.osc.ca/en/securities-law/orders-rulings-decisions/apx-inc). This positions APX Lending to be the first crypto-backed lender in Canada to provide borrowers with a secure and compliance-focused solution to access liquidity using their digital assets as collateral.
The global crypto-backed lending market is projected to exceed $45 billion by 2030, underscoring the growing demand for trusted solutions that integrate digital assets into the traditional economy. APX Lending is addressing this demand with an institutional-grade lending platform where users can deposit Bitcoin or Ethereum as collateral and access liquidity through flexible, competitive loan terms.
With industry-leading security, strict adherence to Canadian regulatory directives, and insured cold storage custody, APX Lending offers a level of protection that sets it apart from other lenders. A robust risk management framework facilitates transparency, safety, and security for both retail and institutional borrowers.
“Crypto-backed lending should be safe, secure, and simple to access,” said Andrei Poliakov, founder and CEO of APX Lending. “By engaging with Canadian regulators and leading the way in Canada, we are setting a new benchmark for compliance and security in crypto-backed lending, helping retail and institutional borrowers unlock liquidity while maintaining ownership of their digital assets. This marks a major step toward integrating crypto into mainstream finance and building a truly global, compliance-focused crypto-backed lending ecosystem.”
Beyond its core lending platform, APX Lending is seeing increased interest in its white-label lending solution, which allows banks, financial institutions and other lenders to seamlessly integrate crypto-backed lending into their offerings. With this regulatory milestone, APX Lending is set to begin servicing Canadian clients while further expanding into the US, Australia, New Zealand, and other global markets.
About APX Lending
APX Lending is a crypto-backed lending platform, providing instant liquidity to borrowers while maintaining compliance and security. The company enables retail and institutional borrowers to leverage their digital assets without selling them, offering a secure and compliance-focused borrowing experience. Founded by Andrei Poliakov, co-founder of Coinberry, one of Canada’s oldest and largest regulated crypto exchanges, APX Lending is pioneering the future of regulated crypto-backed lending worldwide.
For more information, please visit https://www.apxlending.com/
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking information within the meaning of applicable Canadian securities laws. In some cases, forward-looking information can be identified by the use of words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, and by discussions of strategies that involve risks and uncertainties, certain of which are beyond APX Lending’s control. In this press release, forward-looking information includes, among other things, statements relating to expectations of the size and success of APX Lending’s lending and other business activities. The forward-looking information is based on certain key expectations and assumptions made by APX Lending, including with respect to the ultimate market size and demand for crypto-backed lending in Canada and internationally and all other statements that are not historical facts.
By its nature, such forward-looking information necessarily involves known and unknown risks and uncertainties that may cause actual results, performance, prospects and opportunities in future periods of APX Lending to differ materially from those expressed or implied by such forward-looking statements. Furthermore, the forward-looking statements contained in this press release are made as of the date of this press release and neither APX Lending nor any other person assumes responsibility for the accuracy and completeness of any forward-looking information, and no one has any obligation to update or revise any forward-looking information, whether as a result of new information, future events or such other factors which affect this information, except as required by law.
Additional Information, For additional information, please contact, Media Relations: [email protected]
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Blockchain Press Releases
BingX Launches StakeStone Launchpool to Unlock Staking and Cross-Chain Liquidity
PANAMA CITY, April 2, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to introduce StakeStone (STO) to the BingX Launchpool, offering its users a zero-fee staking experience with real-time earnings visibility and flexible withdrawal options. Running from April 2 to April 7, this initiative provides a gateway to decentralized, cross-chain liquidity while maximizing rewards.
StakeStone is a decentralized omnichain liquidity infrastructure protocol designed to improve liquidity distribution across blockchain networks. Utilizing its omnichain architecture, StakeStone optimizes yield generation, streamlines liquidity provisioning, and enhances asset management. Backed by investors like BingX Labs, an innovation hub dedicated to identifying and empowering promising blockchain projects, StakeStone enhances liquidity distribution across multiple blockchain ecosystems through its proprietary Omnichain Liquidity Layer.
With StakeStone Launchpool on BingX, users can earn sustainable yields while maintaining full flexibility. Key benefits include instant earnings tracking, hassle-free redemption without lock-ups, and exclusive USDT rewards for both new participants and referral-based deposits. This integration simplifies asset management while offering superior yield optimization for DeFi users.
“At BingX, we are always looking for ways to break down barriers and unlock new opportunities for our users,” said Vivien Lin, Chief Product Officer of BingX. “By bringing StakeStone to our Launchpool, we are introducing a more seamless, cost-efficient staking model that empowers our users to maximize yields while benefiting from cross-chain liquidity solutions. This partnership aligns with our vision of making DeFi more accessible, efficient, and rewarding for our global community.”
BingX’s collaboration with StakeStone reflects its ongoing commitment to innovation in DeFi and cross-chain liquidity. As blockchain ecosystems become increasingly interconnected, BingX continues to expand its support for projects that solve critical liquidity fragmentation issues and enhance asset utility. The StakeStone Launchpool is part of BingX’s broader strategy to provide users with cutting-edge decentralized finance solutions, reinforcing its position as a leader in the next phase of DeFi evolution.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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