Stablecoin payments go ‘invisible’ in Southeast Asia as crypto card business surges

The rise of stablecoin payments in Southeast Asia has been nothing short of remarkable. Companies like StraitsX are at the forefront of this revolution, providing the infrastructure that powers seamless transactions using stablecoins.

According to the co-founder and CEO Tianwei Liu, StraitsX has seen a massive surge in card transaction volume, with a 40-fold increase between the fourth quarter of 2024 and the same period in 2025. The number of cards issued grew even faster, increasing 83-fold. These numbers are a testament to the rapid growth of stablecoin card programs in the region.

Artemis Analytics estimates that global monthly volumes for crypto cards grew from $100 million in early 2023 to over $1.5 billion by late 2025, indicating a 106% compound annual growth rate. StraitsX is riding this rising tide, with its infrastructure playing a crucial role in the industry’s growth.

One of StraitsX’s key partnerships is with RedotPay, a major player in the crypto card space. RedotPay processed over $2.95 billion in card volume in 2025, positioning itself as a dominant player in the market. This partnership highlights the strength of StraitsX’s infrastructure in enabling stablecoin-backed transactions.

Looking ahead, StraitsX is set to launch its two stablecoins, XSGD and XUSD, on the Solana blockchain. This deployment will mark the first time both tokens will live natively on a high-speed blockchain, enabling machine-to-machine micropayments using the x402 standard. The goal is to make stablecoin transactions seamless and ubiquitous, much like fiber-optic cables.

Beyond Singapore, StraitsX is expanding its cross-border corridors, with plans to launch similar initiatives in Thailand, Japan, Taiwan, and Hong Kong. These initiatives aim to enable seamless transactions using stablecoins, with the potential to revolutionize the way people make payments across borders.

Visa, a key partner of StraitsX, sees stablecoin-backed cards as a natural evolution in payments. Adeline Kim, Visa’s Singapore and Brunei country manager, emphasizes that stablecoin-backed cards offer the same customer experience as traditional ones, with added benefits like lower fees and faster transactions.

As the stablecoin ecosystem continues to evolve, companies like StraitsX are paving the way for a future where stablecoin payments are ubiquitous and seamless. By providing the infrastructure that powers these transactions, they are driving innovation and enabling new possibilities in the world of digital payments.