StraitsX and Visa expand stablecoin-backed card issuing to more than 100 markets

StraitsX has partnered with Visa to extend its card issuing capabilities beyond Asia and into more than 100 markets globally. For high-risk PSPs, the part that matters is not the press-release gloss but the plumbing: stablecoin balances and digital asset payment flows can now be wired into Visa’s acceptance network through a single infrastructure partner.

1. StraitsX said the expansion lets it support eligible card issuance programs globally, subject to applicable regulatory, compliance, and Visa requirements. The company’s stated target customers are fintechs, Digital Payment Token (DPT) service providers, wallets, and other businesses building card programs that connect stablecoin balances with card payments.
2. The move follows what StraitsX described as significant growth in Asia. The company said its card issuing business reached an annualised card GTV (gross transaction value) of more than US$6 billion across its stablecoin-backed card programs.
3. In practice, the model is straightforward: stablecoins support the underlying funding and settlement flow, while cardholders still transact using familiar Visa credentials. That gives businesses a way to use digital assets without forcing merchants or consumers to change the payment experience.
4. StraitsX said the collaboration is intended to support businesses operating across multiple markets through one infrastructure partner. That is the operational angle here: card issuance, stablecoin-native settlement, and global acceptance are being packaged together rather than stitched together piecemeal.
5. Visa’s Rubail Birwadker, Global Head of Growth Products & Partnerships, said the company is working with StraitsX to bring “the benefits of new payment technologies” into the global financial system in a way that is “secure, scalable and trusted.” The partnership also explicitly takes into account evolving money-laundering and terrorism financing typologies and says such risks will be properly mitigated.

For PSPs and issuers watching the stablecoin stack, the key question is no longer whether stablecoins can settle value. It is whether they can be routed into card programs at global scale without breaking compliance, compliance again, and then card network rules for good measure. StraitsX and Visa are now saying yes, subject to the usual approvals.