Metal Completes Seed Funding Round Led by Airwallex and Capital49

Metal, a settlement network for tokenized financial products, has completed a seed funding round led by Airwallex and Capital49, with the amount undisclosed. According to Foresight News, as part of the investment, Airwallex has joined Metal as its first design partner. Foresight News previously reported that Airwallex founder Jack Zhang said in a post in June 2025 that investors frequently asked him about stablecoins and whether they could reduce foreign-exchange fees. Zhang said he did not see how stablecoins could lower costs when transferring money from U.S. dollars to euros if the recipient still needs to receive euros through their bank, arguing that conversion costs from stablecoins to the recipient currency are higher than the interbank FX market. He added that crypto technology was an area he had not previously understood and said that over the past 15 years he had not seen an application case for crypto technology.