Alibaba backs MetaComp to expand stablecoin payments network

Singapore-based MetaComp completed a Pre-A+ funding round backed by Alibaba, lifting cumulative financing to $35 million in three months to expand its StableX Network for cross-border stablecoin payments across Asia, the Middle East, Africa and Latin America.

The Pre-A+ round was led by Alibaba and included European early-stage investor Spark Venture, with Beijing-based 100Summit Partners serving as exclusive financial adviser, the company announced. In December 2025, MetaComp closed a $22 million Pre-A round from Eastern Bell Capital, Noah, Sky9 Capital, Freshwave Fund and Beingboom Capital.

Founded in 2018 in Singapore, MetaComp provides hybrid fiat and stablecoin payment services and access to traditional and tokenized wealth products for financial institutions and high-net-worth clients. The new capital will support the scaling of StableX, a blockchain-based platform connecting regulated financial institutions, stablecoin issuers and partners for compliant, real-time settlement.

The company points to growing demand for regulated stablecoin infrastructure to speed up and lower the cost of cross-border payments, particularly in markets with fragmented banking systems. Plans call for onboarding licensed entities and payment providers that require defined compliance standards and transaction traceability.

Co-president Tin Pei Ling said the future of cross-border finance will be a hybrid model, not purely traditional or fully digital. She described it as a “Web2.5” setup where fiat payment rails and stablecoin networks are integrated to work as one system.

Alibaba’s participation follows the company’s work on deposit tokens and related payment technologies for overseas transactions. In 2025, Alibaba partnered with JPMorgan to settle payments using tokenized U.S. dollars and euros on the bank’s blockchain infrastructure. In February, authorities in mainland China reiterated that foreign and domestic firms cannot issue stablecoins pegged to the national currency without approval.

As part of the rollout, MetaComp plans to build partnerships with banks, licensed payment institutions and stablecoin issuers to enable interoperability between fiat accounts and on-chain settlement. Planned tools include treasury management, compliance reporting and liquidity features across multiple jurisdictions.