IDA

What IDA does

IDA Finance Hong Kong Limited, founded in 2024 and headquartered in Hong Kong, is a digital asset technology company building HKDA — a Hong Kong Dollar-pegged, fiat-referenced stablecoin designed to be regulated in Hong Kong and backed 1:1 by reserves held in regulated Hong Kong authorized institutions. The company's technology stack combines multi-chain deployment (Solana, Polygon, Aptos, Mantra) with Chainlink's Proof of Reserve and Cross-Chain Interoperability Protocol for transparent collateralization and cross-chain mobility, plus integrations with Japan-side infrastructure providers Progmat, Datachain, and TOKI for HK–JP remittances.

IDA's commercial model centers on B2B enterprise sales to financial institutions, banks, virtual asset exchanges, real-world asset issuers, and retail merchants, with distribution delivered through strategic partners rather than direct channels. Revenue is intended to be generated from transaction/settlement fees and minting/redemption fees on HKDA, with pricing not publicly disclosed. Anchor distribution and infrastructure partners include Bank of East Asia (reserve bank and authorized minter), Zand Bank (Belt and Road and BRICS Plus corridors), Hex Trust (institutional custody), AUDC Pty Ltd (Australia trade corridor), and EVIDENT/Micro Connect MCEX (tokenized RBF settlement). The company is led by co-founders Lawrence Chu and Sean Lee, with Board Chairman Dr. David Wong (former Deputy Group CEO of Bank of China Hong Kong) and CEO Stephen Leung (former General Manager & Group CIO at BEA, effective September 2025). IDA has raised USD 6 million in seed funding (September 2024) led by CMCC Global's Titan Fund and Hashed.

Name

IDA

Legal name

IDA Finance Hong Kong Limited

Website

https://idafi.xyz

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

IDA Finance Hong Kong Limited is a Hong Kong-based fintech building HKDA, a 1:1 HKD-pegged, fiat-referenced stablecoin designed for regulated issuance. The company sells enterprise stablecoin infrastructure — payments, settlement, tokenization, and custody — to banks, asset issuers, and merchants across Hong Kong, the Middle East, Japan, and Australia.

Ownership category

akta.pro rank

Product category

Stablecoin Infrastructure and Digital Asset Technology

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)

akta.pro secondary industry

RWA Tokenization Platforms (asset onboarding, structuring, issuance) (FSAPAIAC)

Keywords

• Fiat-referenced stablecoin
• Digital asset technology
• Blockchain payment infrastructure
• Cross-border payment solutions
• Stablecoin issuance platform

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Stablecoin Transaction/Settlement Fees: Revenue generated from transaction fees and settlement services when HKDA is used for cross-border payments and commerce. The stablecoin facilitates 24/7/365 digital payments between Hong Kong and global markets.
2. Stablecoin Minting and Redemption: Fees associated with the minting and redemption of stablecoins, partnering with key industry players including financial institutions for these services.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

IDA is the leading provider of digital asset technologies, enabling businesses to fully utilize blockchain technology through HKDA, a fiat-referenced stablecoin pegged 1:1 to the Hong Kong Dollar and designed to be regulated in Hong Kong. HKDA is backed by 100%+ reserves held in regulated Hong Kong authorized institutions, deployed on multiple public blockchains (Solana, Polygon, Aptos, Mantra), and integrated with Chainlink Proof of Reserve and CCIP for transparency and cross-chain interoperability. IDA's stablecoin infrastructure powers 24/7/365 B2B payments, cross-border trade settlement (Belt and Road, Japan, Australia), tokenized real-world asset settlement, and retail loyalty programs.

Product overview

IDA is a premier Hong Kong-based digital asset technology company that provides a unified suite of stablecoin-powered payment solutions. The core product is HKDA (Hong Kong Digital Asset), a fiat-referenced stablecoin pegged 1:1 to the Hong Kong Dollar, designed for regulated operation in Hong Kong. This core offering is complemented by specialized cross-border trade solutions for Australia (HKDA-AUDD) and Japan (HKDA-JPY), Belt and Road payment services, tokenized RBF settlement infrastructure, B2B payment and settlement platforms, Web3 loyalty solutions, and institutional custody services. All products share a common infrastructure layer built on multiple blockchain networks (Solana, Polygon, Aptos, Mantra) with Chainlink oracle integration for transparency, unified reserve management through regulated Hong Kong banking partners, and cross-chain interoperability via Progmat, Datachain, and TOKI. The portfolio enables seamless Web2-to-Web3 integration for businesses seeking efficient cross-border payments and digital asset adoption.

Differentiator

Problem solved

Functional benefit

Brands

• HKDA: A fiat-referenced stablecoin built on public blockchain protocols, designed to be regulated in Hong Kong, backed 1:1 by Hong Kong Dollar.

Products and services

• HKDA (Hong Kong Digital Asset) A fiat-referenced stablecoin pegged 1:1 to the Hong Kong Dollar, designed to be regulated in Hong Kong. HKDA is fully backed by 100%+ reserve assets held in regulated Hong Kong authorized institutions and is built on public blockchain protocols (Solana, Polygon, Aptos, Mantra) with Chainlink PoR and CCIP integration. It enables 24/7/365 B2B payments and settlement for financial institutions, exchanges, and corporates engaged in cross-border trade.
• HKDA-AUDD Cross-Border Trade Solution Stablecoin-based cross-border trade settlement solution pairing HKDA with AUDD (AUD-backed stablecoin from partner AUDC) to enable faster, more transparent, and cost-effective settlement for bilateral Hong Kong-Australia trade valued at US$5.3 billion annually. Targets importers, exporters, banks, and payment providers operating under the Australia-Hong Kong Free Trade Agreement.
• HKDA-JPY Cross-Border Remittance Solution Proof-of-concept solution for stablecoin-based cross-border remittances between Hong Kong and Japan for import/export trade settlement. Uses HKDA alongside JPY-denominated stablecoins and Progmat Coin issuance platform, Datachain infrastructure, and TOKI cross-chain bridge, leveraging regulatory clarity in both jurisdictions. Targets importers, exporters, and remittance providers moving funds between HKD and JPY.
• Belt and Road Stablecoin Payment Solutions Stablecoin-based 24/7/365 cross-border payment solutions targeting Belt and Road Initiative countries and BRICS Plus regions, with initial focus on Middle East and North Africa connectivity through partnerships such as Zand Bank (UAE). Provides cost-effective, efficient digital payments for businesses engaged in regional trade and remittances.
• Tokenized RBF Settlement Infrastructure Stablecoin infrastructure for tokenizing and settling revenue-based financing (RBF) investment instruments. Connects asset origination, tokenized issuance, distribution, and stablecoin-based settlement into an integrated digital value chain via partnership with EVIDENT and Micro Connect Macao Financial Assets Exchange (MCEX). Targets RBF originators, RWA issuers, and licensed exchanges.
• B2B Payment and Settlement Platform Stablecoin-based B2B payment and settlement platform enabling instant transactions with 24/7 availability and minimal transaction fees. Integrates with banking partners such as BEA for reserve management and regulatory compliance to enhance merchant cash flow and drive economic activity. Targets merchants, corporates, and banks integrating HKDA into existing payment infrastructure.
• Web3 Loyalty and Rewards Solutions Stablecoin-powered loyalty and rewards solutions for retail environments, developed through the Web3 accelerator program with Brinc, Octopus, and XDC Network. Transforms traditional reward systems into agile, transparent platforms with real-time redemption, dynamic loyalty models, and cross-border interoperability. Targets SMEs, retailers, and loyalty program operators leveraging Octopus's 190,000+ acceptance points and 3 million monthly active users.
• Enterprise Stablecoin Custody Services Institutional-grade custody services for HKDA and related stablecoin products, delivered through partnership with Hex Trust. Offers multi-jurisdictional licenses, secure and compliant custody solutions, and exploration of FX features for the stablecoin ecosystem. Targets institutional clients of virtual asset exchanges and digital asset custodians.

Quantifiable outcome

• HKDA expected to facilitate faster, more transparent, and cost-effective cross-border payments compared to traditional systems
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Stephen LeungcoreOthers · 15 September 2025Former General Manager and Group CIO at BEA appointed as CEO to lead IDA's blockchain finance initiatives and stablecoin solutions, effective September 15, 2025.
• BrinccoreStrategic or Co-development Partner · 10 July 2025Launched Web3 accelerator program with Octopus and XDC Network to transform Hong Kong's retail loyalty ecosystem using stablecoin technology, supporting SMEs in connecting Web2 and Web3.
• Octopus Cards LimitedcoreStrategic or Co-development Partner · 10 July 2025Partnership leveraging Octopus's extensive infrastructure (190,000+ acceptance points, 3 million active monthly users) as use case for Web3 loyalty transformation through stablecoin solutions.
• XDC NetworkcoreTechnology or Integration · 10 July 2025XDC Network serves as Web3 infrastructure partner for the accelerator program, providing enterprise-grade blockchain technology for compliant tokenization and cross-border interoperability.
• AUDC Pty LtdcoreStrategic or Co-development Partner · 15 April 2025Strategic collaboration to launch Hong Kong-Australia stablecoin-based cross-border trade initiative, transforming trade with faster, more transparent, cost-effective payment systems under A-HKFTA.
• Hex TrustcoreStrategic or Co-development Partner · 9 April 2025Hex Trust provides licensed, institutional-grade custody services for IDA's stablecoin products, enabling compliant and seamless cross-border commerce and digital payments.
• Brand Identity (Chinese Name)minorOthers · 7 April 2025IDA officially announced its Chinese name as '愛達' (Ai Da), representing passion for innovation and mission to connect global trade corridors through stablecoins.
• Progmat Inc.coreTechnology or Integration · 21 March 2025Partnership with Japan's digital assets platform provider backed by largest banking groups to develop proof of concept for stablecoin-based cross-border remittances between Hong Kong and Japan.
• DatachaincoreTechnology or Integration · 21 March 2025Partnership with leading Japanese blockchain firm to support development and implementation of cross-border stablecoin exchanges between Hong Kong and Japan.
• TOKI FZCOcoreTechnology or Integration · 21 March 2025Partnership with cross-chain infrastructure provider to enable seamless cross-chain transactions for Hong Kong-Japan stablecoin-based remittances.
• EVIDENTcoreStrategic or Co-development Partner · 18 February 2025Partnership to tokenize and distribute revenue-based financing (RBF) investment instruments listed on Micro Connect Macao Financial Assets Exchange, creating integrated digital value chain.
• The Bank of East Asia (BEA)coreStrategic or Co-development Partner · 11 December 2024Collaboration with BEA to explore stablecoin use cases. BEA acts as reserve bank and authorized minter to ensure regulatory compliance while fostering financial innovation.
• Quinlan & AssociatesminorStrategic or Co-development Partner · 27 November 2024Co-published thought leadership report 'From Digital Currency to Legal Tender: The Role of Regulated Stablecoins in Driving Real-world Payments' exploring stablecoin adoption potential.
• Zand BankcoreStrategic or Co-development Partner · 30 October 2024Strategic partnership with UAE's first fully licensed all-digital bank to facilitate blockchain-based cross-border payments in Belt and Road regions and BRICS Plus, providing 24/7 digital payments.
• Dr. David WongcoreOthers · 18 October 2024Former Deputy Group CEO of Bank of China (Hong Kong) Limited appointed as Board Chairman to guide strategic vision and corporate governance.
• ChainlinkcoreTechnology or Integration · 9 October 2024Integration with Chainlink's Proof of Reserve (PoR) for verifying asset collateralization and CCIP for secure cross-chain interoperability. This provides HKDA users enhanced visibility into reserves backing the stablecoin.
• Solana FoundationcoreTechnology or Integration · 2 September 2024Strategic blockchain partner to foster HKDA's interoperability, accessibility, resilience, and liquidity. Part of IDA's ecosystem partners.
• PolygoncoreTechnology or Integration · 2 September 2024Strategic blockchain partner to foster HKDA's interoperability, accessibility, resilience, and liquidity. Part of IDA's ecosystem partners.
• Aptos FoundationcoreTechnology or Integration · 2 September 2024Strategic blockchain partner to foster HKDA's interoperability, accessibility, resilience, and liquidity. Part of IDA's ecosystem partners.
• MantracoreTechnology or Integration · 2 September 2024Strategic blockchain partner to foster HKDA's interoperability, accessibility, resilience, and liquidity. Part of IDA's ecosystem partners.

Scale indicators3 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• First Digital Labs: Hong Kong-based issuer of FDUSD, a USD-pegged regulated stablecoin, and previously custodian for Hong Kong-based digital asset products. Closest direct peer given shared Hong Kong regulatory jurisdiction and fiat-referenced stablecoin model targeting Asian institutional clients.
• Tether: Issuer of USDT, the world's largest stablecoin by market cap, and operator of fiat-referenced token issuance infrastructure. Direct competitor in the stablecoin issuance and cross-border payments space, though focused on USD rather than HKD.
• Circle: Issuer of USDC, a leading regulated USD stablecoin, with strong focus on regulatory compliance, reserve transparency, and institutional/cross-border payment use cases. Closely comparable to IDA's positioning around regulated fiat-referenced stablecoins with transparent reserves.
• Paxos: Regulated stablecoin issuer (USDP, PayPal's PYUSD) and tokenization infrastructure provider for institutional clients. Direct peer in offering regulated, reserve-backed fiat stablecoins with institutional-grade custody and transparency.
• TrueUSD (Techteryx): Issuer of TUSD, a regulated USD stablecoin with attested reserves. Comparable to IDA in emphasizing regulatory compliance, third-party reserve attestation, and multi-chain deployment for institutional and cross-border use cases.
• Ripple (RLUSD): Issuer of RLUSD, a USD stablecoin launched in 2024-2025, with deep cross-border payments DNA through RippleNet. Comparable to IDA in combining a regulated stablecoin with cross-border payment corridors across Asia.

Emerging players

• Progmat: Japan-based regulated stablecoin issuance platform backed by major Japanese banking groups. IDA partner for the Hong Kong-Japan remittance PoC; comparable as an Asia-focused regulated stablecoin infrastructure provider with banking-grade institutional support.
• Ondo Finance: Issuer of USDY and OUSG, tokenized money products backed by US Treasury and bank deposits, with a strong Asia distribution push. Comparable to IDA as an institutional-grade tokenized-money platform targeting yield-bearing and settlement use cases across regulated markets.
• AUDC: Issuer of AUDD, an Australian Dollar-pegged stablecoin, and a direct partner of IDA on the Hong Kong-Australia cross-border trade corridor. Comparable as a regulated, fiat-referenced stablecoin issuer targeting institutional cross-border settlement.

Broad incumbents

• JPMorgan (JPM Coin / Onyx): Operates JPM Coin and the Onyx tokenized money platform for institutional cross-border settlement and tokenized deposits. A broader incumbent that competes with IDA in the institutional tokenized-money space, though embedded within a much larger banking franchise.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/IDAfi24
• LinkedInlinkedin.com/company/ida-fi

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IDA