KUN, a Hong Kong-based company specialising in stablecoin payments, has closed its Series A funding round with oversubscription.
The company, which has been operational for 20 months, said it has raised more than $50m since its establishment.
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BAI Capital and GSR Ventures, existing investors, increased their investments, while a Hong Kong-listed conglomerate and Eternium Global, joined the round as investors.
KUN reported a 200% month-over-month increase in transaction volume over the past 12 months and offers cross-border payment solutions for enterprise and institutional clients.
KUN founder and CEO Louis Liu said: “KUN will leverage the proceeds from this round to deepen R&D investments in cross-border transaction security, underlying blockchain infrastructure, and wallet technologies, while accelerating upgrades of AI-driven intelligent risk control systems and compliance stacks (KYC/AML/KYT).
“Simultaneously, we will synergise our existing Hong Kong and Singapore licensing frameworks with global regulatory applications and institution network expansions. By collaborating with ecosystem partners worldwide, KUN aims to build a seamless Web2-Web3 hybrid digital payment network, strengthening its global operational foundation.
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By GlobalDataLast month, KUN partnered with TradeGo, a digital platform servicing the global commodity trade market.
The collaboration will integrate blockchain technology for electronic Bill of Lading (eBL), enhancing cross-border capabilities, and incorporate stablecoin settlement infrastructure.
KUN operates with licences in multiple jurisdictions, including Hong Kong, Singapore, and Europe, primarily serving in Greater Bay Area, Southeast Asia, the Middle East, Africa, and Latin America.
