StraitsX and Visa expand stablecoin card issuing to 100+ markets
StraitsX, a Singapore-based stablecoin settlement provider licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS), announced that it has partnered with Visa. The partnership extends StraitsX’s card issuing infrastructure beyond Asia to support eligible card programmes in more than 100 markets, subject to regulatory, compliance, and Visa requirements. The service is designed for fintechs, Digital Payment Token (DPT) service providers, wallets, and other businesses building card programmes that connect stablecoin balances with Visa’s acceptance network.
The expansion follows growth in StraitsX’s card issuing business in Asia, where it has reached an annualised card gross transaction value (GTV) of more than USD 6 billion across its stablecoin-backed card programmes. Tianwei Liu, CEO and Co-founder of StraitsX, said stablecoin-backed cards are one of the clearest examples of stablecoins moving beyond settlement and into everyday payments. Liu added that the expansion allows the company to offer the same infrastructure to businesses building card programmes across markets.
Stablecoin funding with Visa credentials
Under the model, stablecoins support the underlying funding and settlement flow, while cardholders transact with Visa credentials across its global acceptance network. Merchants and consumers do not need to adopt a new payment experience. Businesses operating in several markets can access stablecoin infrastructure and global card issuing through a single partner. The collaboration will also take account of evolving money laundering and terrorist financing typologies so that related risks are mitigated.
Rubail Birwadker, Global Head of Growth Products & Partnerships at Visa, said Visa aims to bring new payment technologies into the global financial system in a way that is secure and scalable. He added that working with StraitsX opens more ways to use stablecoins for real-world payment flows connected to Visa’s network.
Wider stablecoin infrastructure strategy
The expansion forms part of StraitsX’s strategy to connect stablecoins with the financial and payment infrastructure businesses already use. StraitsX issues the XUSD and XSGD stablecoins and provides infrastructure for payments and settlement across markets. The company is also building infrastructure to connect new types of payment flows, including payments initiated by AI agents, with existing financial networks.
