XWeave, a startup developing infrastructure for stablecoin-based cross-border payments, has raised US$3 million in seed funding.
The round was led by Jungle Ventures through its First Cheque@Jungle initiative, alongside crypto investment firm Lightshift.
Follow-on investment came from Menyala, a venture studio founded by Temasek that also incubated the company.
Additional investors include White Star Capital, Fabric Ventures, Digital Currency Group (DCG), The Venture Dept., and several angel investors.
The funding will be used to expand XWeave’s network across non-G10 payment corridors in Asia and the Middle East, including the UAE, Indonesia, Japan, and Hong Kong.
The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products.
Founded in 2024 by Milind Sanghavi, a payments veteran with prior roles at Meta, PayPal, Visa, Ezetap, and OCBC, XWeave aims to modernise global money movement by connecting fiat payment rails with blockchain-based stablecoin networks.
Since launching operations in December 2024, XWeave has enabled real-time payments between Singapore and the Philippines.
The company is also a member of the Global Finance and Technology Network (GFTN).
Its infrastructure is non-custodial and asset-agnostic, allowing institutions to transfer funds without holding user assets.
Designed for interoperability, the platform supports a range of use cases—from remittances and merchant payouts to treasury and wallet operations.
A key feature of the platform is its optimisation engine, which intelligently scans multiple stablecoins and fiat on/off ramps to identify the most cost-effective route for each transaction.
By reducing the need for pre-funding and simplifying integration with legacy systems, XWeave aims to improve the speed, transparency, and cost-efficiency of cross-border payments.
“The US$30T cross-border payments market is overdue for transformation. As stablecoins evolve into mainstream financial infrastructure, XWeave is the connective tissue that enables businesses to move money across borders with the ease of a text and the compliance rigor of regulated flows. While there have been other attempts using specific digital assets, we’re about to see a significant rise in both stablecoins and CBDCs.
XWeave’s non-custodial, asset-agnostic orchestration platform is the best way for businesses to access this growing liquidity— leveraging the benefits of blockchain without relying on regulatory arbitrage. Our job is to make it usable and adaptable for the full spectrum of money flows.”
said Milind Sanghavi, Founder and CEO of XWeave.
Featured image credit: Edited from Freepik
