MetaComp Nabs $35M from Alibaba to Fuel StableX Network Expansion

MetaComp, a Singapore-based stablecoin payment firm, has completed a Pre-A+ funding round backed by Alibaba, bringing its total capital raised to $35 million across two rounds in three months. The company previously closed a $22 million Pre-A round in December.

The new funding round also saw participation from European early-stage investor Spark Venture and Beijing-based 100Summit Partners as exclusive financial adviser. MetaComp plans to use the funds to expand its StableX Network, a blockchain-based platform connecting regulated financial institutions, stablecoin issuers, and related partners.

The company's co-president Tin Pei Ling stated that MetaComp was built on the view that the future of cross-border finance lies in an integrated architecture where fiat rails and stablecoin networks function as one system. Alibaba's participation is notable given mainland China's tight restrictions on stablecoin issuance, with reports indicating the company was exploring deposit-token technology for overseas transactions.

The stablecoin market is projected to reach $2 trillion by 2028, according to Standard Chartered. MetaComp's funding round reflects continued appetite for stablecoin payment infrastructure ahead of that projected growth, particularly in markets with limited access to traditional cross-border settlement rails.