KUN, a Hong Kong-based stablecoin payment and embedded finance platform, has raised over USD 50 million in total following its oversubscribed Series A round, the company said, reinforcing its position as an early mover in blockchain-powered cross-border payments.
Existing investors BAI Capital and GSR Ventures increased their stakes, while a Hong Kong-listed conglomerate and Eternium Global joined as new strategic investors.
“This funding marks another milestone in KUN’s journey toward globally compliant, intelligent, and unified financial solutions,” said Chen Yu, KUN’s chief advisor and co-founder of YeePay.
Founded 20 months ago, KUN has expanded rapidly, reporting 200% month-on-month transaction growth over the past year. Its clients include thousands of enterprises and financial institutions using its stablecoin-powered payment infrastructure.
Louis Liu, KUN’s founder and CEO, said the funds would go towards enhancing blockchain infrastructure, AI-driven risk controls, and compliance systems, while expanding licensing frameworks across Hong Kong, Singapore, and Europe.
“We will synergize our existing licensing frameworks with global regulatory applications and institution network expansions,” Liu said. “By collaborating with ecosystem partners worldwide, KUN aims to build a seamless Web2-Web3 hybrid digital payment network.”
The company recently signed an MoU with TradeGo, focusing on integrating blockchain-based electronic Bill of Lading (eBL) technology, compliance tools, and stablecoin settlement infrastructure for commodity trade transactions.
Eternium Global CEO Kent Cai said: “We believe that cross-border payments is the current killer application of Web3 and blockchain technology. We are fully onboard with KUN’s long-term vision.”
BAI Capital’s William Zhao added: “The transition from SWIFT to stablecoin-based cross-border transfers powered by real-time blockchain clearing is becoming reality. KUN is leading the way in Asia.”
Business News Asia
