Hong Kong-based stablecoin-powered cross-border payments provider Obita has successfully raised over $10 million in an angel funding round.
The funding round was co-led by Vision Plus Capital and Mirana Ventures, with additional contributions from Legend Capital, HashKey Capital, and Web3.com Ventures.
Obita is leveraging stablecoins to build a blockchain-native payment network under its Obita Mesh framework. The startup aims to address key industry challenges, including high foreign exchange costs, delayed settlements, and lack of transparency in fund flows. This will be achieved through the integration of enterprise-grade compliance systems, cross-border clearing networks, and unified treasury management tools.
Targeting high-growth markets in Southeast Asia, Central Asia, Africa, and Latin America, the funding will support research and development, compliance infrastructure, and market expansion.
CEO Dayong Zhang stated, “We aim to integrate the revolutionary potential of blockchain technology into real-world global capital flows through our enterprise-grade, end-to-end, compliant, secure, and high-quality integrated services.”