Alta has closed a $47.5 million Series A led by Index Ventures, bringing its total funding to $80 million after a $32.5 million seed round. The November 10, 2026 financing was rounded up to $48 million in the company's announcement on X. GV, Blackbird Ventures, Square Peg and Capital49 also participated, while Airwallex primarily backed the seed round. Formerly known as Metal, Alta is developing a Layer 1 blockchain and global settlement network for banks, payment providers, tokenized funds and other regulated financial institutions. Its core proposition is programmable compliance, with identity verification, permission controls and regulatory policies enforced at the protocol level as transactions move. Recursive zero-knowledge proofs are intended to verify KYC and AML requirements without exposing balances, transactions, identities or policies. The network is designed for stablecoin payments, tokenized deposits and other assets, real-time foreign exchange, cross-border payments, integrated yield systems and on-chain delivery-versus-payment settlement across around 200 countries and 90 currencies. Airwallex is both an investor and a distribution partner, connecting the network to stablecoin pay-ins and pay-outs and local fiat payment systems. Alta was co-founded by Loong Wang, who serves as CEO, and Catherine Porter, a former Meta executive who worked on the company's crypto initiatives. Its first product is intended to help businesses reduce liquidity trapped in prefunded accounts through tokenized assets for just-in-time funding, foreign exchange and access to yield-bearing assets. Alta estimates that $4 trillion is tied up in prefunded accounts globally. The valuation was not disclosed, and the next test is whether institutions use the network at meaningful scale.