Alta Blockchain Raises $47.5 Million in Series A Funding Led by Index Ventures

Alta, formerly known as Metal, announced on November 10, 2026, a $47.5 million Series A round led by Index Ventures. The round brings the company's total funding to $80 million after a $32.5 million seed round. The startup is building a Layer 1 blockchain with embedded privacy and programmable compliance tools using recursive zero-knowledge cryptography.

Funding Details and Key Investors

Index Ventures led the round, with participation from GV, Blackbird Ventures, Square Peg, and Capital 49. Airwallex, a seed investor, continues as a strategic partner. The proceeds will support blockchain development, new institutional partnerships, and hiring in engineering and compliance roles. Alta maintains offices in San Francisco and Melbourne and currently employs about 25 people.

Co-founders include CEO Loong Wang, who previously founded and sold the Ren blockchain protocol, President Catherine Porter, a former Meta executive, and co-founder Jack Zhang, who is also CEO of Airwallex. The company positions its chain specifically for banks, payment firms, and other regulated entities that require verifiable compliance without sacrificing transaction privacy.

Technology Focus and Airwallex Partnership

Alta's Layer 1 integrates privacy and compliance directly into the protocol rather than relying on add-on solutions common on other networks. The design targets tokenized finance, cross-border payments, treasury management, and agentic commerce. Early emphasis centers on reducing idle cash held in prefunded accounts, estimated at roughly $4 trillion globally, through just-in-time funding, tokenized assets, efficient foreign exchange, and yield opportunities.

Airwallex will integrate its global payments network with Alta's chain to support stablecoin transfers and access to local fiat rails across more than 200 countries and 90 currencies. CEO Loong Wang stated that current blockchains lack the privacy and compliance features institutions require, while Airwallex CEO Jack Zhang noted the demand for private, neutral infrastructure tied to regulated fiat systems.

Market Context and Development Roadmap

Alta enters a market with increasing regulatory clarity around stablecoins and tokenization. The company aims to serve financial institutions that have shown growing interest in blockchain rails for settlement and liquidity management. No specific mainnet launch date or additional funding timeline has been disclosed.

Development priorities include continued infrastructure work, expanded global connectivity, and team growth. The project builds on prior seed capital and strategic relationships to deliver a chain that meets institutional requirements for auditability and data protection while enabling real-time movement of value.