MetaComp, a Singapore-based digital asset platform, has unveiled StableX, a cutting-edge infrastructure designed to revolutionise cross-border foreign exchange (FX) payments through the use of stablecoins. Announced on 14 May, StableX is integrated with MetaComp’s institutional platform, CAMP, and is set to operate continuously, supporting a wide range of currencies to facilitate global payment flows.
StableX addresses the complexities of the current FX market, which sees over $7 trillion traded daily through outdated systems. By leveraging stablecoins, StableX offers a more efficient alternative, enabling real-time execution and reducing transaction friction. The platform’s intelligent routing engine optimises each transaction, choosing between stablecoins or US dollars (USD) for the best cost, speed, and settlement certainty. Initially, StableX supports USDT and USDC, with plans to include other stablecoins like FDUSD, PYUSD, and WUSD soon.
Tin Pei Ling, Co-President of MetaComp, highlighted the platform’s benefits: “StableX delivers what businesses need most—24/7 access, real-time execution, and infrastructure they can trust.” Eddie Hui, Co-President and COO, added that StableX bridges the gap left by legacy systems, offering agility and scalability for global financial flows.
Built on MetaComp’s Web 2.5 Core Banking System, StableX integrates seamlessly with CAMP, supporting high-volume FX transactions and offering additional services like collection-on-behalf and payment-on-behalf. As it launches, StableX will support major currency pairs, with plans to expand to 31 currencies, ensuring liquidity and compliance.
StableX is now live, providing a robust solution for businesses seeking efficient, transparent, and cost-effective cross-border payments.
“`
