--- title: "Fintech company MetaComp raises $35 million, founder: Moving towards the regional goal of Revolut | Lianhe Zaobao" type: "News" locale: "en" url: "https://longbridge.com/en/news/278944658.md" description: "Financial technology company MetaComp has completed a $35 million financing round in Singapore, aiming to become the Revolut of the region. This financing is supported by institutions such as Alibaba and aims to build a cross-border payment and wealth management platform. Founder Bai Bo pointed out that there are currently no large financial technology companies in ASEAN, and the potential in the institutional client market is enormous. MetaComp will combine fiat currencies and stablecoins for cross-border settlements, striving to fill the market gap" datetime: "2026-03-12T21:07:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278944658.md) - [en](https://longbridge.com/en/news/278944658.md) - [zh-HK](https://longbridge.com/zh-HK/news/278944658.md) --- # Fintech company MetaComp raises $35 million, founder: Moving towards the regional goal of Revolut | Lianhe Zaobao The Singapore-based fintech company MetaComp announced the completion of a $13 million (approximately SGD 16.62 million) pre-Series A+ financing round. With the previous pre-Series A funding, the total financing amount for both rounds reached $35 million. This round of financing was supported by Alibaba, Spark Venture, and other institutional investors, with existing shareholders also participating in the investment. MetaComp co-founder and executive chairman Bai Bo stated in an interview on Monday (March 9) that the company's goal is not only to become a cross-border payment infrastructure but also to create a financial platform that combines payment and wealth management, "to become another Revolut in the region." MetaComp provides Web 2.5 cross-border payment and wealth management financial infrastructure. Web 2.5 generally refers to a hybrid model between traditional internet finance and blockchain finance. According to reports, this platform primarily completes cross-border settlements by integrating fiat currency and stablecoin payment pathways. Stablecoins, which are pegged to certain currencies, commodities, or financial instruments, are more commonly used for payments and transactions compared to other highly volatile cryptocurrencies. ### Founder: ASEAN Still Lacks Large Digital Financial Platforms, Institutional Clients are a Blue Ocean Market Bai Bo cited Ant Group and Revolut as examples during the interview, explaining that both have established large-scale digital financial platforms in Central and Eastern Europe. "However, in ASEAN, there are no companies that have reached this scale and size." He also pointed out that there are already a considerable number of competitors in the retail payment sector. In contrast, institutional clients and high-net-worth individuals represent a relatively blue ocean market. "If we look at the initial process of Revolut, they initially served more institutional clients until they gradually accumulated more capabilities. To be honest, we are following the same model." Revolut recently officially applied for a banking license in the United States. However, Bai Bo emphasized that MetaComp does not intend to become a bank. He also noted that the company's ultimate goal is to conduct an initial public offering (IPO) within a few years. The company currently operates under the Major Payment Institution license issued by the Monetary Authority of Singapore, while the wealth management business is handled by an affiliated company holding a Capital Markets Services license #### Extended Reading Singapore plans to legislate to regulate stablecoins, enhancing regulatory transparency and public confidence 85% of local enterprises optimistic about cross-border expansion, stablecoins and AI become new tools It currently has over 1,000 institutional clients, and the payment and over-the-counter (OTC) transaction volume processed by the platform last year was $10 billion. ### Stablecoins transition from speculation to rapid development, constrained by policies not serving clients within China Stablecoins became a hot topic in the fintech industry last year. The United States and Hong Kong successively introduced regulatory bills, and our Monetary Authority also announced plans to formulate regulations for stablecoins, legalizing the regulatory framework to be published in 2023. As we enter the Year of the Horse, market attention in this area seems to have declined. However, Bai Bo believes this actually indicates that technology is transitioning from speculation to an accelerated development phase. Marin Bay—Braidwood constituency councilor Chen Pei-ling joined MetaComp in June 2024 as the co-president of the company. She pointed out that trade connections between China and ASEAN, Africa, and the Middle East continue to grow, creating demand for cross-border payment services. However, the company emphasizes that its related business does not directly serve clients within mainland China to comply with regulatory policies Last year, there were market rumors that Beijing authorities were considering allowing the use of RMB stablecoins. The authorities then suddenly reversed their stance, labeling stablecoins as "illegal" and subjecting them to strict regulation. Bai Bo explained that those "going overseas" enterprises, such as Chinese companies establishing entities in Singapore or other countries, will still be the service targets of the company. Chen Peiling pointed out that some emerging market enterprises cannot easily obtain US dollars, making stablecoins an alternative for their cross-border settlements. With the outbreak of the US-Iran conflict and the Middle East falling into chaos, market news indicates that Singapore is attracting funds withdrawing from the region. Will this give our country a more favorable position in the fintech sector? Bai Bo believes this may be a good thing for Singapore. However, he pointed out that institutions still need to cooperate. "We do not want to see a situation where everyone must come to Singapore, and there are no financial institutions in Dubai or the United States. 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