Singapore-based cross-border payments and digital assets firm MetaComp has raised $22 million in a pre-Series A round as it expands a cross-border settlement network linking bank rails with stablecoin transfers, the company said.
The round was backed by investors Eastern Bell Capital, Noah, Sky9 Capital, Freshwave Fund, and Beingboom Capital, per the announcement.
MetaComp holds a Major Payment Institution licence from the Monetary Authority of Singapore (MAS) to provide cross-border money transfer and digital payment token services.
The company said the funds will help speed up the rollout of its StableX Network. The firm wants “local-fiat in, stablecoin rails across borders and local-fiat out” settlement.
It plans to expand in Southeast Asia, South Asia, and the Middle East. It said demand is rising for fast payment rails that still meet compliance standards.
MetaComp’s StableX Engine, launched in May, is an FX and liquidity engine for business-to-business flows. The company said it can route payments over SWIFT or through stablecoin networks. It supports more than 10 stablecoins, including USDT and USDC.
In November, MetaComp launched the StableX Network. It said this adds real-time settlement on top of the engine. It also adds VisionX, a risk tool that pulls KYT data and assigns risk scores.
“StableX and VisionX give enterprises the speed of stablecoins with the safeguards of regulated finance,” said Dr Bo Bai, chairman and co-founder of MetaComp.
The funding round, he added, is validation from top-tier investors that “regulated stablecoin settlement will be one of Asia’s defining financial rails over the next decade.”
The deal comes as stablecoins move deeper into corporate treasury and trade flows. MAS in 2023 set rules for “single-currency stablecoins” issued in Singapore and pegged to the Singapore dollar or a G10 currency, including reserve backing and disclosure requirements.
The funding occurs as startup investments in the region continue to cool down, with private firms raising about $320 million from 36 equity deals in October, down 41.5% month-on-month from $547 million across the same number of transactions in September.
