StraitsX, Visa Expand Stablecoin-Backed Card Issuance

StraitsX and Visa have partnered to expand the issuance of stablecoin-backed cards into additional markets. The companies did not disclose which markets are included or when the cards will launch.

The partnership will support additional cards that use stablecoins as their underlying funding source. The companies did not identify the stablecoins involved or provide details about participating issuers.

The cards are designed to let eligible users spend digital-asset balances for purchases at merchants that accept Visa. Product terms, availability and the launch schedule were not disclosed.