Obita raises $10 million to expand stablecoin payment network

Obita has secured more than $10 million in angel round financing for the development and expansion of its stablecoin-based cross-border payment infrastructure.

The funding round was co-led by Vision Plus Capital and Mirana Ventures and saw participation from Legend Capital, HashKey Capital, Web3.com Ventures, alongside several other institutional and individual investors. The new capital will be used for system research and development, enhancing compliance infrastructure, and supporting Obita's global market strategy.

Market transformation

Obita is targeting the ongoing shift in global cross-border payments prompted by regulatory changes concerning stablecoins. The company is building its cross-border payment network, known as Obita Mesh, on a blockchain-based platform that uses compliant stablecoins, enabling what it describes as low-cost, real-time settlement with regulatory compliance as a core feature for enterprise customers worldwide.

The company's offering seeks to address challenges in the sector including high foreign exchange costs, settlement delays, and limited transparency regarding fund flows. Through its integrated solution, Obita incorporates compliance mechanisms, cross-border clearing, and unified treasury management aimed at business users in sectors such as trade, eCommerce, and supply chains, with an initial focus on high-growth regions including Southeast Asia, Central Asia, Africa, and Latin America.

"Cross-border payments are at a tipping point driven by stablecoin innovation," said Dayong ZHANG, Co-founder and CEO of Obita. "We aim to integrate blockchain technology's revolutionary potential into real-world global capital flows through our enterprise-grade, end-to-end, compliant, secure, and high-quality integrated services."

Investor perspectives

The completion of the funding round saw statements of support from co-lead investors and other strategic partners. Yiran LIU, Managing Partner at Vision Plus Capital, commented on the investment outlook:

"Cross-border B2B payment is a crucial infrastructure for global trade. Obita's stablecoin-centred solution significantly improves cost efficiency. We have full confidence in Obita team's accumulated experience in global fintech and diverse cross-sector backgrounds. Vision Plus Capital has a broad cross-border fintech portfolio and looks forward to exploring more use cases for stablecoins in the payment sector."

David Toh, Managing Partner of Mirana Ventures, highlighted the potential impact of Obita's approach, stating, "By embedding compliant stablecoin settlement into global trade, Obita is catalysing industry-wide upgrades."

Further input came from Tony WANG, Managing Director of Legend Capital, who noted opportunities for integration in the financial technology landscape. "Bridging Web2 and Web3 worlds represents the biggest opportunity in today's fintech landscape. Obita's team, with deep expertise across both domains, is uniquely positioned to lead this trend."

Alignment with broader industry priorities was also expressed by Chao DENG, CEO of HashKey Capital. "Obita's solution aligns perfectly with HashKey's strategic focus on digital assets, compliance, and infrastructure development. Together, we will accelerate industry-wide transformation."

Leadership and expertise

Obita's management team is composed of senior professionals from the fintech, payments, and digital asset sectors. Dayong ZHANG, Co-founder and CEO, is recognised in the industry for his roles at HashKey Group, where he contributed to projects such as HashKey Chain and the HKDR stablecoin, as well as for previous leadership positions at Ant Group in South and Southeast Asia. His background includes developing digital asset and fiat products and facilitating compliance-focused blockchain solutions for financial institutions.

Vincent YANG, Co-founder and Chief Business Officer, previously established abComo and anyStarr and contributed to cross-border payment projects as part of Longbridge Securities, AliExpress, and Ant Financial. His experience extends across Southeast Asia, Europe, and Latin America, in roles centred on business development, partnerships, and scaling operations for digital finance companies.

Obita's stated mission is to reshape global financial infrastructure with compliant, blockchain-native solutions, targeting wider adoption of stablecoin-driven processes for business-to-business payments and enabling financial connectivity in a range of markets. Supported by recent financing and a network of international investors, the company is prioritising real-world applications and compliance in its expansion plans.