StraitsX Card Volume Explodes 40x on Surging Regional Adoption
Singapore-based infrastructure provider StraitsX reported a 40-fold increase in its stablecoin card transaction volume between the fourth quarter of 2024 and the same period in 2025. The number of cards issued grew even more sharply, climbing 83-fold over the year. While the expansion stems from a relatively low baseline following a late-2024 soft launch, the figures establish the company as a key force in Southeast Asia's burgeoning digital payments sector.
This growth aligns with a broader industry trend. Global crypto card volumes increased at a 106% compound annual growth rate to over $1.5 billion monthly by late 2025, according to Artemis Analytics. On-chain data from Dune Analytics further shows that total crypto card spending grew 420% during 2025, with Visa-linked cards, including those powered by StraitsX, accounting for over 90% of the volume.
Infrastructure Strategy Drives RedotPay's $2.95B Dominance
StraitsX operates as a B2B infrastructure provider, acting as a Visa BIN sponsor for partners rather than building a direct-to-consumer app. This model has proven highly effective, with partner RedotPay processing over $2.95 billion in card volume in 2025—more than four times the combined volume of its 13 closest competitors. The infrastructure enables customers to pay with stablecoins that settle in real-time and convert to local currency for the merchant, making the crypto layer invisible.
No user cares about whether a payment runs on stablecoins or fiat; they only care if the payment goes through.
— Tianwei Liu, Co-founder and CEO, StraitsX.
Solana Integration and New Markets Signal Future Growth
StraitsX is preparing to expand both its technical capabilities and geographic footprint. By the end of March 2026, the company will launch its XSGD and XUSD stablecoins natively on the Solana blockchain. This deployment will support the x402 standard, a protocol designed for low-cost, high-frequency machine-to-machine micropayments, which could unlock new automated transaction use cases.
The company is also pushing into new markets. A cross-border payment corridor with Thailand is set to launch under Project BLOOM, a regulatory initiative from Singapore's central bank. This will allow Thai travelers to pay Singaporean merchants using native e-wallets, with StraitsX's XSGD stablecoin handling the backend conversion. Similar expansions are planned for Japan, Taiwan, and Hong Kong, extending the company's payment rails across Asia.
