MetaComp, a Singapore-based licensed stablecoin payment provider, has raised $22 million in a Series A funding round to expand its cross-border payment infrastructure in Asia. The funding round was attended by Eastern Bell Capital, Noah, Sky9 Capital and other funds, with 100Summit Partners as advisors.
According to the announcement, MetaComp holds the MAS Large Payment Institution license and processes more than $1 billion in transactions per month in more than 30 markets. In November, the company launched StableX Network, which integrates payment technology and the VisionX risk analysis system.
StableX supports Swift and many stablecoin networks such as USDT, USDC, RLUSD, FDUSD, PYUSD, and WUSD, providing 24/7 foreign exchange, optimized routing, and automated liquidity management for businesses. MetaComp said the stablecoin regulatory clarity helps the business modernize payments and will use the new capital to expand into Southeast Asia, South Asia and the Middle East.
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