Alta has raised $47.5 million in a Series A round to build a compliance-focused blockchain for banks and large companies. Index Ventures led the round, which Alta announced Tuesday, according to Fortune’s report.
The company is developing its own blockchain with a compliance layer that lets customers ensure processed transactions follow rules and regulations around the world. Alta is pitching the system to financial firms and large companies seeking faster money transfers with crypto.
Why Alta Is Building a Compliance-Focused Blockchain
Financial firms already have a choice of networks, including Ethereum, Solana and Avalanche. Alta chief executive Loong Wang told Fortune he believes blockchain is the best technology for transferring money, but said existing options lack privacy and compliance tools designed for banks and other large financial players.
Wang said Alta’s features include a tool that prevents people from sending funds at random to addresses on its blockchain. The feature addresses a practice known as an airdrop, which can require wallet holders to accept funds whether they want them or not.
“We often say we wouldn’t have built an L-1 if we didn’t have to,” Wang told Fortune. His comments describe the company’s rationale for creating another network despite the many Layer 1 blockchains already available.
Airwallex Provides a Distribution Connection
Alta previously raised $32.5 million in seed funding, backed primarily by Airwallex, the Australian fintech company competing with Stripe and others in global payments. Alta has 25 employees and offices in San Francisco and Melbourne.
Fortune reported that Wang has a personal connection with Airwallex chief executive Jack Zhang. Zhang had been skeptical of crypto, but recently acknowledged the inherent value of stablecoins for cheap and efficient money transfers.
Airwallex is also serving as a distribution channel, encouraging its global customer network to use Alta’s platform for crypto transactions. The relationship comes as Airwallex rivals build crypto infrastructure too, including Stripe and its Tempo blockchain.
“With the rise of agentic banking and programmable payments, stablecoins are becoming an important vector for settlement,” Zhang said in a statement announcing Alta’s funding round.
Investors Join Alta’s Series A
GV (Google Ventures), Blackbird Ventures, Square Peg and Capital49 also participated in the Series A. Capital49 is a venture firm established by Airwallex’s cofounders. The company did not disclose its valuation in the round.
Alta was previously known as Metal and recently rebranded. Wang founded an earlier crypto startup that he sold in 2021, then pivoted to a second startup using quantum computing to aid drug discovery before returning to crypto technology to found Alta with Catherine Porter, a former Meta executive.
The round places Alta among companies building transaction infrastructure for institutional crypto use. Banks are also exploring stablecoin settlement and digital asset infrastructure, including efforts discussed at MERGE Madrid 2026. Other coverage has examined how banks put deposits on blockchain and plans for a shared banking network. Those initiatives provide context for the institutional market Alta is pursuing, while the company’s stated next step is to attract banks and large companies to its own network.
Frequently asked questions
How much did Alta raise in its Series A?
Alta announced a $47.5 million Series A round led by Index Ventures.
What is Alta building?
Alta is building its own blockchain with a compliance layer intended for banks and large companies. The company says its tools address privacy and compliance needs.
What does Alta's compliance layer do?
The layer lets customers ensure transactions they process are consistent with rules and regulations around the world, according to the source.
How is Airwallex connected to Alta?
Airwallex primarily backed Alta’s $32.5 million seed round and is encouraging customers in its global network to use Alta’s platform for crypto transactions.
