Emirati cross-border payment infrastructure provider SaturnX closed a USD 3 mn seed funding round, according to a press release. Global investment firm White Star Capital led the round, which also saw participation from institutional investors. The company offers API-based stablecoin payment solutions for financial institutions and B2B fund transmitters.

Where will the funds go? The new funding will support expansion into Southeast Asian markets including the Philippines, Bangladesh, Indonesia, and Pakistan. The capital will also boost regulatory infrastructure and platform development as it looks to capitalize on the USD 600 bn global remittance market, the statement read.

More on SaturnX: Founded by Mirnas Brescic (LinkedIn), SaturnX operates liquidity pools for stablecoin transfers and provides real-time FX pricing aggregation. The company has processed USD 250 mn in transaction volume while maintaining profitability. It currently facilitates payments between the Gulf region and South Asia.

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