China’s Alibaba joins stablecoin platform MetaComp’s $35M fundraise
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MetaComp’s Pre-A+ funding round, backed by Alibaba and Spark Venture, brings the total capital raised to $35 million, with aims to expand its StableX Network globally.
Singapore-based MetaComp said Friday it completed a new funding round backed by Alibaba, as the company expands its stablecoin payment infrastructure.
MetaComp completed a Pre-A+ round backed by Alibaba, bringing the cumulative total to $35 million across two rounds in three months, according to the announcement.
The latest round also featured the European early-stage venture capital investor Spark Venture, with Beijing-based 100Summit Partners serving as exclusive financial adviser.
MetaComp previously announced closing a $22 million Pre-A funding round in December 2025 from investors including Eastern Bell Capital, Noah, Sky9 Capital, Freshwave Fund and Beingboom Capital.
The raise adds to signs of investor interest in regulated stablecoin infrastructure for cross-border payments in Asia.
Founded in 2018, MetaComp serves global financial institutions and high-net-worth individuals by offering hybrid fiat and stablecoin payment solutions and access to traditional and tokenized wealth management products.
With the new capital, MetaComp plans to expand its StableX Network, a platform that connects regulated financial institutions, stablecoin issuers and other partners through blockchain-based infrastructure.
Related: Stablecoin payments startup Kast raises $80M at $600M valuation: Report
MetaComp said the network will expand across Asia, the Middle East, Africa and Latin America, where it sees growing demand for compliant, real-time cross-border settlement.
“MetaComp was built on a single conviction: that the future of cross-border finance is neither purely traditional nor purely digital — it's the integrated Web2.5 architecture where fiat rails and stablecoin networks operate as one,” MetaComp co-president Tin Pei Ling said.
Alibaba’s backing is notable given earlier reports that the company was exploring deposit-token technology for overseas transactions even as mainland China kept tight restrictions on stablecoin issuance.
In February, the government reiterated its stance, saying foreign and domestic companies cannot issue stablecoins pegged to the national currency without approval.
The stablecoin market is projected to reach $2 trillion by 2028, according to institutions including Standard Chartered.
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Source: CoinTelegraph
