The Invisible Revolution: How Stablecoins Are Quietly Powering the Future of Payments
When a tourist from Bangkok taps to pay in Singapore using their Thai e-wallet, the seamless experience often goes unnoticed. But behind the scenes, companies like StraitsX are building the infrastructure that makes these frictionless transactions possible. The growth in stablecoin-powered payments is accelerating, and it’s poised to reshape how we move money globally.
Explosive Growth in Stablecoin Card Transactions
StraitsX has witnessed a remarkable surge in activity. Between the fourth quarter of 2024 and the same period in 2025, card transaction volume increased by 40 times. The number of cards issued grew even faster, an astounding 83-fold increase. This positions StraitsX at the forefront of one of the fastest-growing stablecoin card programs in Southeast Asia.
This growth isn’t happening in isolation. Artemis Analytics estimates global monthly volumes grew from roughly $100 million in early 2023 to over $1.5 billion by late 2025, a 106% compound annual growth rate. Dune Analytics data shows total crypto card spending tracked onchain grew 420% in 2025, reaching $120 million by December. Visa currently captures over 90% of onchain card volume, with stablecoin-linked card spend reaching a $3.5 billion annualized run rate by Q4 2025.
The Power of Being “Invisible”
StraitsX isn’t building a consumer-facing app. Instead, it provides the underlying infrastructure, acting as a Visa BIN sponsor and enabling partners like RedotPay and UPay to issue cards. The company’s CEO, Tianwei Liu, emphasizes the importance of making the stablecoin layer “invisible” to the end user. “No user cares about whether a payment runs on stablecoins or fiat; they only care if the payment goes through,” he stated.
StraitsX has already processed nearly $30 billion in cumulative stablecoin transactions. The company is expanding its reach, with plans to launch its XSGD and XUSD stablecoins on the Solana blockchain by the end of March, supporting the x402 standard for machine-to-machine micropayments. This will allow for very small amounts of money to be moved frequently and at very low cost.
Beyond Singapore: Cross-Border Payments and Regulatory Initiatives
StraitsX is actively expanding beyond its Singapore base. A cross-border corridor with Thailand is set to launch under Project BLOOM, a regulatory initiative from Singapore’s central bank. This system will allow Thai travelers to pay merchants in Singapore using QR codes and their local currency, with a seamless conversion between Thailand’s Q-money and StraitsX’s XSGD in the background.
Similar rollouts are planned in Japan, Taiwan, and Hong Kong, demonstrating a strategic focus on key Asian markets.
Stablecoins as the Recent Fiber Optic Cables
Liu envisions stablecoins becoming as ubiquitous as fiber-optic cables – present everywhere but unnoticed. This parallels Visa’s perspective, with Adeline Kim, Visa’s Singapore and Brunei country manager, describing stablecoin-backed cards as an evolution of existing payment methods. “It’s like driving an electric car versus a car that runs on fuel on the same highway,” Kim explained. “The vehicle is different, but the road signs, toll booths, and rules don’t change.”
Remittances and the Future of Finance
The potential impact on remittances is significant. The World Bank estimates that sending $200 internationally still costs an average of 6.49%. Stablecoins offer a dramatically cheaper alternative, potentially saving billions of dollars in fees annually.
Looking ahead, Visa anticipates future offerings will include real-time spending insights, cross-border perks, and reward systems tailored to user behavior. The growth aligns with a broader trend, with full-stack crypto card issuers like Rain and Reap experiencing rapid scaling.
Frequently Asked Questions
- What is a stablecoin?
- A stablecoin is a cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the US dollar or the Singapore dollar.
- What is StraitsX?
- StraitsX is a company that provides the infrastructure for stablecoin-powered payments, acting as a Visa BIN sponsor and enabling partners to issue cards.
- What is Project BLOOM?
- Project BLOOM is a regulatory initiative from Singapore’s central bank aimed at facilitating cross-border payments using stablecoins.
- What is the x402 standard?
- The x402 standard allows for machine-to-machine micropayments on the Solana blockchain.
Ready to learn more about the future of digital finance? Explore our other articles on stablecoins and blockchain technology. Subscribe to our newsletter for the latest insights, and updates.
Keep reading