Hong Kong-based stablecoin-powered cross-border payments infrastructure provider Obita has raised over $10 million in an angel funding round.
The round was co-led by Vision Plus Capital and Mirana Ventures, with participation from Legend Capital, HashKey Capital, and Web3.com Ventures.
With stablecoins at its foundation, Obita is building a blockchain-native payment network under its Obita Mesh framework.
The startup says it is taking on industry pain points such as high foreign exchange costs, delayed settlements, and insufficient fund flow transparency, by integrating enterprise-grade compliance systems, cross-border clearing networks, and unified treasury management tools.
The company has an initial focus on high-growth markets in Southeast Asia, Central Asia, Africa, and Latin America.
The funding will be used for R&D, compliance infrastructure development, and market expansion.
Dayong Zhang, CEO, Obita, says: "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."