• Singapore-based XWeave raised USD 3 million in seed funding led by Jungle Ventures, with participation from Lightshift and other investors.
• Founded in 2024, XWeave builds infrastructure enabling stablecoin-based, non-custodial cross-border payments between fiat and blockchain networks.
• XWeave has launched real-time payments between Singapore and the Philippines, and is part of the Global Finance and Technology Network.

XWeave

What happened ? Singapore-based XWeave raised USD 3 million in seed funding. The round was led by Jungle Ventures through its First Cheque@Jungle initiative, alongside crypto investment firm Lightshift. In addition, investors include Menyala, White Star Capital, Fabric Ventures, Digital Currency Group (DCG), The Venture Dept, and angel investors.

Who are they? Founded in 2024 by Milind Sanghavi, it is a startup developing infrastructure for stablecoin-based cross-border payments. Furthermore, XWeave aims to modernize global money movement by connecting fiat payment rails with blockchain-based stablecoin networks. Its infrastructure is non-custodial and asset-agnostic, allowing institutions to transfer funds without holding user assets.

Since its launch, the startup has enabled real-time payments between Singapore and the Philippines. In addition, it is a member of the Global Finance and Technology Network (GFTN).

Cross-Border Payments

What’s next? The startup aims to expand its network across non-G10 payment corridors in Asia and the Middle East. Furthermore, its focus is on the UAE, Indonesia, Japan, and Hong Kong.

It is also seeking regional fintechs and global merchant platforms to embed real time cross-border settlement into their products. In addition, it 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,” said Milind Sanghavi, Founder and CEO of XWeave.