MetaComp Launches StableX for Cross-Border FX Payments

MetaComp, a Singapore-based licensed institution, has launched StableX, a cross-border foreign exchange (FX) payment platform powered by stablecoins. The platform is designed to cater to the FX needs of cross-border merchants, financial institutions, fintechs, and global businesses. StableX aims to provide "always-on access" to foreign exchange with speed, cost-efficiency, and reliability.

The platform currently supports Tether (USDT) and USD Coin (USDC), two of the top stablecoins by market capitalization. MetaComp plans to expand its asset offerings to include other prominent stablecoins such as FDUSD, PYUSD, and WUSD. StableX utilizes an "intelligent routing engine" that automatically selects between USD or stablecoins for each transaction, optimizing for cost, speed, and settlement certainty.

Tin Pei Ling, Co-President of MetaComp, highlighted the platform's purpose-built design for cross-border B2B payments. "With StableX, we’re making it faster, more intelligent, and more stable to move money globally — and we’re doing it with the power of stablecoins," she stated. The platform leverages MetaComp's Client Asset Management Platform (CAMP), which fully manages users’ fiat and cryptocurrencies, to enable high-volume FX transactions across borders.

CAMP not only facilitates seamless transactions but also offers clients the opportunity to obtain yield on treasury balances and available liquidity. StableX will initially support a set of currency pairs and aims to roll out access to 31 major currencies that MetaComp already supports. This phased rollout ensures liquidity, operational reliability, and regulatory compliance as users grow their global payment operations.

MetaComp's launch of StableX signifies a significant step in the integration of stablecoins into the traditional financial system. By providing a reliable and efficient platform for cross-border FX payments, MetaComp aims to promote the adoption of cryptocurrencies as a legitimate asset class. The platform's intelligent routing engine and CAMP's comprehensive management of fiat and cryptocurrencies position StableX as a competitive solution in the global payments landscape.