Laos National Digital Technology Group (LADT) received Hashkey Capital led a $ 3 million angel round financing, which will promote the issuance of ASEAN stable currency

Recently, USDA, an ASEAN stablecoin project jointly launched by Lao National Digital Technology Group (LADT) and its subsidiary NewPay, successfully completed a US$3 million angel round of financing led by HashKey Capital, with participating investors including Web3Labs and well-known strategic investors from ASEAN countries will use this round of financing to promote the compliance and internationalization process of the ASEAN stable currency USDA.

LADT: Leading the digital transformation of Laos

LADT is a pioneer and innovator in promoting the digital transformation of Laos, led by the Lao central government and under the guidance of the Lao Ministry of Science and Technology and the Central Bank. Its founding team comes from different countries around the world and focuses on the scenario-based implementation of digital infrastructure construction and blockchain applications in Laos and even the ASEAN region.

In July 2024, LADT signed a strategic cooperation MOU with HashKey Capital under the witness of the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, and the then Deputy Prime Minister and Foreign Minister of Laos, Sharonxay Konmassi. On the same day, LADT signed a strategic cooperation MOU with the Hong Kong Goldford Group (Gao Feng Group) signed a strategic investment agreement.

USDA: An ASEAN-compliant stablecoin that can be used for daily

consumption

The full name of USDA is ASEAN USD, referred to as "ASEAN Stable Coin". It will become the first batch of full-reserve crypto stablecoins issued stablecoin issuance licenses by ASEAN regional countries. The USDA's compliance journey started in Laos and will gradually extend to more ASEAN and even extra-regional countries/regions in the foreseeable future.

It is reported that after the official issuance, in addition to the conventional functions based on the chain, USDA will gradually be deeply integrated into various payment applications in ASEAN countries, enabling individuals and merchants to consume, pay, transfer and withdraw money in daily life, thus Really let stablecoins enter the daily lives of ordinary people.

NewPay+: Accelerating the payment integration process in ASEAN

The increasing popularity of digital payments in Laos is the epitome of ASEAN countries accelerating digital construction. The total population of the ASEAN region exceeds 600 million, with a high proportion of young people. Internet and mobile phone penetration rates are increasing year by year. Digital payments have a good foundation. The growth of Web3 users is showing an accelerating trend.

NewPay+, the Web3 compliant payment platform created by LADT, was born out of NewPay, a national third-party payment tool in Laos. With USDA as the underlying settlement currency, it will become a cross-border payment clearing system that supports mixed payments of fiat currencies and stable currencies, as well as compliant deposits and withdrawals. . As ASEAN governments continue to improve digital payment infrastructure and networks in the future, NewPay+ will open standardized interfaces to facilitate access to payment tools in various countries and help the development of the "ASEAN Digital Integration Framework".

Laos is the first stop for LADT to implement a compliant Web2 + Web3 integrated payment platform. Currently, national-level cooperation in Cambodia, Brunei and Vietnam is also advancing.

RetoLabs: Creating a new experience in the Telegram ecosystem

After completing the angel round of financing, LADT announced that its first TON chain wallet application NewPay+ TON was officially launched. Also launched at the same time as NewPay+ TON is Telegram’s multi-functional mini application RetoLabs.

RetoLabs is an important application scenario built for NewPay+, integrating eight major content service sectors including games, movies, social networking, short videos, takeaways, ticketing, AI and novel reading functions. Users of NewPay+ TON can earn ecological tokens through interaction with various sections of RetoLabs, conduct on-chain recharge, consumption and asset management, and enjoy global compliant deposit and withdrawal services with the support of LADT in the future.

At the same time, the launch of RetoLabs is an active attempt by LADT to promote the public chain traffic acquisition of the instant messaging platform (similar to the merger of Line and the Korean public chain Klaytn main network), striving to open up another path for the popularization of USDA in addition to traditional payment traffic. Based on Telegram's huge user base and efficient communication mechanism, combined with high-performance and scalable public chains to build multi-functional mini-applications that meet actual user needs, RetoLabs will become a bridge for the majority of Web2 users to transition to Web3, bringing benefits to the entire industry. More innovation and opportunities.

Future plans and practical significance

It is reported that payment platforms, clearing systems, public chains and other products built around the compliant stablecoin USDA ecosystem will also be released one after another.

The successful landing of USDA project angel round financing marks a landmark step for LADT in the field of digital finance in the ASEAN region. HaskKey Capital’s lead investment has injected strong impetus into LADT’s efforts to build a regional leading digital financial infrastructure. This not only demonstrates LADT's innovative strength and strategic vision, but also demonstrates HashKey's high recognition of the development potential of ASEAN's emerging markets.

The launch of RetoLabs and NewPay+ TON marks the first step of LADT's scenario-based implementation, demonstrating its determination and ability to drive innovation with technology and create a decentralized application ecosystem. In the future, LADT will continue to be committed to promoting innovative applications of blockchain technology and providing users with a better digital service experience.

For more details, please pay attention to:

LADT X: https://x.com/LADT_co

LADT official website: https://www.ladt.co/