Stablecoin payments go 'invisible' in Southeast Asia as crypto card business surges
Stablecoin payments are becoming seamlessly integrated into everyday transactions in Southeast Asia, driven by a surge in crypto card usage.Summary
Singapore-based StraitsX is experiencing rapid growth in its stablecoin card program, with a 40x increase in transaction volume and an 83x increase in card issuance between late 2024 and late 2025. This growth is part of a broader trend in the crypto card industry, with global monthly volumes increasing from roughly $100 million in early 2023 to over $1.5 billion by late 2025. StraitsX aims to make stablecoin transactions “invisible” to the user, focusing on providing the underlying infrastructure for partners like RedotPay and UPay to issue cards. The company is expanding beyond Singapore with initiatives like Project BLOOM, a cross-border payment corridor with Thailand, and plans for similar rollouts in Japan, Taiwan, and Hong Kong. Visa, a key partner, sees stablecoin-backed cards as a natural evolution in payments, offering the same customer experience with added benefits like lower remittance fees and potential for personalized rewards.
(Source：CoinDesk)