Alta raises $48 million for its compliance-focused blockchain in Series A round led by Index Ventures - Fortune
Alta has secured $47.5 million in Series A funding led by Index Ventures to develop its compliance-focused blockchain for financial institutions.
Financial firms seeking to accelerate money transfers with crypto now have another option with Alta's new blockchain. The startup has raised $47.5 million in Series A funding led by Index Ventures, following a $32.5 million seed round primarily backed by Australian fintech giant Airwallex. Alta aims to differentiate itself with a compliance layer designed to help customers ensure transactions meet global regulations.
Compliance Focus
Founded by Loong Wang and former Meta executive Catherine Porter, Alta believes blockchain is the best technology for transferring money despite numerous existing options like Ethereum, Solana and Avalanche. The startup recently rebranded from Metal and emphasizes privacy and compliance tools specifically for banks and large financial players.
Airwallex Connection
Alta maintains close ties to Airwallex, with CEO Jack Zhang having a personal connection to Wang. Though previously skeptical of crypto, Zhang now acknowledges the value of stablecoins for efficient money transfers. Airwallex serves as a major distribution channel, persuading its global customers to use Alta's platform for crypto transactions.
With the rise of agentic banking and programmable payments, stablecoins are becoming an important vector for settlement.
With competitors like Stripe and its Tempo blockchain also building crypto infrastructure, Alta positions itself with compliance features that address regulatory concerns for financial institutions. The company has 25 employees with offices in San Francisco and Melbourne.
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