Alibaba Leads $35 Million Funding Round in MetaComp, Eyes Stablecoin Payment Network

Singapore-based MetaComp announced on Friday the completion of a new funding round with participation from Alibaba, aimed at expanding its stablecoin payment infrastructure. The round also attracted European early-stage venture capital firm Spark Venture, with Beijing-based 100Summit Partners acting as the exclusive financial advisor. This funding demonstrates strong investor interest in regulated stablecoin infrastructure for cross-border payments in Asia. MetaComp's StableX Network to Expand Globally Founded in 2018, MetaComp serves global financial institutions and high-net-worth individuals by providing hybrid fiat and stablecoin payment solutions, as well as access to traditional and tokenized wealth management products.

With the newly acquired funds, MetaComp plans to expand its StableX network. This is a platform connecting regulated financial institutions, stablecoin issuers, and other partners through a blockchain-based infrastructure. MetaComp stated that the network will expand to Asia, the Middle East, Africa, and Latin America, as the company sees a growing demand for compliant, real-time cross-border settlements. MetaComp Co-President Tin Pei Ling said: “MetaComp is built on a firm belief: the future of cross-border finance is neither purely traditional finance nor purely digital finance, but an integrated Web2.5 architecture where fiat channels and stablecoin networks operate as a whole.” Despite China's crackdown on stablecoin issuance, Alibaba continues to explore stablecoin projects.