PANews reported on May 6 that according to TNGlobal, XWeave, a Singapore stablecoin cross-border payment company, announced the completion of a $3 million seed round of financing, led by Jungle Ventures and Lightshift, with participation from White Star Capital, Fabric Ventures, DCG, The Venture Dept., and venture capital studio Menyala. XWeave aims to combine the traditional legal currency system with the stablecoin network to support instant, compliant and cost-effective cross-market capital flows. Its non-custodial infrastructure allows institutions to conduct cross-border transactions without custodial user funds. The new funds will support its expansion of the network to the Middle East and other parts of Asia.