China’s Alibaba joins stablecoin platform MetaComp’s $35M fundraise

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.

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