Obita has raised over $10 million for scaling cross-border payments using stablecoins, according to a press release.
This round was led by Vision Plus Capital and Mirana Ventures, as well as contributing VCs Legend Capital, Web3 Ventures and Hashkey Capital.
The team, made up of former executives and professionals from the likes of Hashkey, Bybit, Alibaba, Ant Financial and more, has recently successfully received capital to onboard enterprise and B2B clients.
Their primary product, Obita Mesh, aims to address significant challenges that are familiar to professionals in the industry, including inefficiencies within foreign exchange rates, fees, and delayed transfers.
Obita is positioned to provide low-cost, real-time settlements that are compliant with regulatory standards, largely focusing on clients in developing nations.
Co-founder and CEO Dayong Zhang remarked:
Cross-border payments are at a tipping point driven by stablecoin innovation. 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.
This sentiment is echoed by investors who participated in the deal and recognize the strategic importance of integrating stablecoin solutions into global trade frameworks.
