StraitsX, Visa Target Over 100 Markets in Global Stablecoin Card Expansion

SINGAPORE — Singapore-based payments infrastructure provider StraitsX has partnered with Visa to expand its stablecoin-backed card issuing capabilities to more than 100 markets, extending its reach beyond Asia as fintech companies seek new ways to connect digital assets with traditional payment networks.

The agreement will allow StraitsX to support eligible card programs for fintech companies, digital payment token service providers, cryptocurrency wallets, and other businesses seeking to offer payments funded through stablecoins.

The expansion follows growth in StraitsX's Asian card operations, where its stablecoin-backed programs have reached more than $6 billion in annualized gross transaction value. However, the company emphasized that card issuance in individual markets remains subject to local regulations, compliance requirements, and Visa's approval processes.

StraitsX's expansion builds on its existing card infrastructure in Asia, where businesses have increasingly explored ways to make digital assets usable for everyday purchases. The partnership broadens the geographic scope of its issuing capabilities without requiring companies to develop entirely separate payment systems for each potential market.

The company said its annualized card gross transaction value had exceeded $6 billion across its existing stablecoin-backed programs.

Tianwei Liu, CEO and co-founder of StraitsX, said: “Stablecoin-backed cards have become one of the clearest examples of how stablecoins can move beyond settlement and into everyday payments. We have seen significant growth in this use case across Asia. Expanding our issuing capabilities globally allows us to bring the same infrastructure to businesses looking to build and scale card programs across markets.”

Stablecoins are digital tokens designed to maintain a relatively stable value, commonly by referencing an official currency such as the U.S. dollar. They can be used to transfer value through blockchain networks, although their stability and redemption arrangements depend on the issuer and the structure of the token.

Stablecoin-backed payment cards seek to connect those digital balances with existing card networks. Instead of requiring a retailer to accept cryptocurrency directly, a cardholder can make a purchase using familiar card credentials while the underlying program manages the funding and settlement arrangements.

Under the StraitsX model, participating fintechs and wallet providers can build card programs in which stablecoins support payment flows and Visa provides access to its established acceptance network. The precise conversion and settlement processes may vary between programs.

This approach could make stablecoin balances more practical for consumers and businesses that already hold digital assets. Merchants would not necessarily need to manage stablecoins themselves, while cardholders could continue using conventional payment methods at participating locations.

The arrangement also reflects a wider development in the payments industry. Visa has been working with several digital asset infrastructure providers to connect stablecoin balances with card payments, including a separate collaboration with Bridge announced in March 2026.

Rubail Birwadker, Visa’s global head of growth products and partnerships, said: “At Visa, we are focused on bringing the benefits of new payment technologies into the global financial system in a way that is secure, scalable and trusted. Working closely with our partner, StraitsX, we are unlocking more ways to use stablecoins for real-world payment flows, while connecting them to the reach and reliability of Visa’s global network.”

Reaching more than 100 markets presents challenges that extend beyond the technical ability to issue cards. Financial regulations differ between jurisdictions, particularly when payment products involve digital assets, customer funds, and cross-border transactions.

StraitsX operates as a Major Payment Institution licensed by the Monetary Authority of Singapore and issues the XUSD and XSGD stablecoins. Its regulatory position in Singapore provides a foundation for its existing activities but does not automatically authorize every proposed card program in other countries.

The StraitsX agreement comes as Visa continues developing infrastructure that connects digital assets with its existing payment network. These efforts are intended to support new payment products without requiring consumers and merchants to abandon familiar card-based transactions.

In September 2026 Visa reported that more than 160 stablecoin-linked card programs were operating across its network during its fiscal second quarter. Payment volume associated with those programs grew nearly 200% year over year, according to the company.

Visa also reported that its stablecoin settlement volume had exceeded a $20 billion annualized run rate.

The growing number of programs suggests that stablecoins are finding applications beyond cryptocurrency trading and transfers. Card payments offer one route into conventional commerce, although their longer-term adoption will depend on costs, regulatory compliance, consumer demand, and the reliability of the underlying infrastructure.

StraitsX's partnership with Visa gives the Singapore-based provider a broader platform through which to pursue international card programs.