According to CoinMeta, Singapore-based fintech company IPID announced the completion of a $16 million Series A financing round, led by Foundation Capital. Citigroup, HSBC, QED Investors, Monk's Hill Ventures and Quona Capital also participated in the round. The funds raised will be used to optimize the global payment intelligence network and to expand into the US payment market, as well as to develop stablecoins and digital asset markets.