Alibaba deepens stablecoin push with MetaComp deal

Alibaba led a $35 million funding round for Singapore-based MetaComp, expanding its push into stablecoin payments and tokenised real-world assets. The investment will help grow MetaComp StableX Network for cross-border settlements across Asia, the Middle East, Africa, and Latin America, following Alibaba earlier $20 million backing of VelaFi.