Hong Kong-based Qupital, a trade finance fintech for ecommerce merchants, said it launched an on-chain lending protocol on October 6.

Qupital said the system uses AI credit monitoring, Ethereum smart contracts, and USDC settlement to automate loan disbursement and repayment.

It said the protocol adjusts credit exposure in real time and uses payment gateway APIs to collect merchant cash flow when store metrics deviate from preset parameters.

The company said it has processed more than US$9.5 billion in cumulative trade financing and has a US$100 million pipeline for on-chain financing.

The launch followed its US$300 million series C funding on September 13, 2026.

The launch comes as Hong Kong’s monetary authority has set out a licensing regime for stablecoin issuers, and as on-chain trade finance structures such as invoice tokenization already exist in the market.

🔗 Source: Qupital