StraitsX partners with Visa to expand stablecoin card issuing globally
The Singapore-based company plans to extend its capabilities to more than 100 markets, subject to regulatory, compliance and Visa requirements.
Singapore-based StraitsX has agreed a partnership with Visa that will enable it to offer stablecoin-backed card issuing in more than 100 markets. The expansion beyond Asia will support eligible programmes, with access dependent on regulatory and compliance conditions as well as Visa’s requirements.
StraitsX said its Asian stablecoin-backed card programmes had generated annualised gross transaction value (GTV) exceeding US$6 billion. These programmes use stablecoins for funding cards and settling transactions, while purchases pass through Visa’s network. Merchants do not need to accept stablecoins themselves.
The expanded infrastructure is aimed at fintech companies, providers of digital payment token (DPT) services, wallet operators and other businesses building such card programmes. StraitsX CEO and Co-Founder Tianwei Liu said the move would enable businesses to develop and scale programmes across markets, following growth in Asia.
The companies also said the integration would take account of changing risks involving money laundering and terrorism financing, and that they would seek to mitigate those risks.
