Obita Raises $10 Million for Cross-Border Payments Network
Cross-border payment and digital financial network Obita received more than $10 million in an angel round.
The new funding will be used for research and development, compliance infrastructure development and market expansion, aimed at speeding the deployment of Obita’s stablecoin-based cross-border payment network, according to a Monday (Sept. 1) press release.
“Amid a global wave of stablecoin legislation and compliance advancements, cross-border payments are undergoing a revolutionary transformation,” the release said. “With compliant stablecoins at its foundation, Obita is building a blockchain-native payment network under its Obita Mesh framework, empowering global enterprises to experience low-cost, real-time settlement with regulatory-compliant solutions.”
Obita integrates enterprise-grade compliance systems, cross-border clearing networks and unified treasury management tools to alleviate industry pain points like high foreign exchange costs, delayed settlements and insufficient fund flow transparency, the release said.
The company targets cross-border trade, eCommerce and supply chain platforms, with an initial focus on high-growth markets in central and southeast Asia, Africa and Latin America, per the release.
“Cross-border payments are at a tipping point driven by stablecoin innovation,” Obita co-founder and CEO Dayong Zhang said in the release. “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.”
Meanwhile, stablecoins are reshaping the cross-border payments space.
“For much of the past decade, cryptocurrency and traditional finance operated in parallel,” PYMNTS reported Aug. 4. “Stablecoins, blockchain-based tokens pegged to fiat currencies, emerged in the cryptocurrency market as tools for liquidity and arbitrage. At the same time, banks and payment networks continued investing in modernizing legacy rails, with limited overlap between the two spheres. That separation is now collapsing.”
The proof of this narrowing separation was seen in the commentary from corporate executives during second-quarter earnings calls. It showed that stablecoins are being embedded into the financial system not as a replacement for fiat money, but as digital settlement layers that can function across borders more efficiently than traditional networks.
“The distinction matters,” the report said. “This isn’t a wholesale replacement of global finance; it’s a technological competition around the means of settlement, with stablecoins offering a leaner architecture for moving money internationally.”
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