When a tourist from Bangkok taps to pay in Singapore using their Thai e-wallet, few stop to consider what powers that transaction.

But for Singapore-based StraitsX, the company behind the stablecoin infrastructure running in the background, that seamless experience is exactly the point.

Between the fourth quarter of 2024 and the same period in 2025, StraitsX saw its card transaction volume surge by 40 times, the company’s co-founder and CEO Tianwei Liu told CoinDesk.

The number of cards issued grew even faster, increasing 83-fold. That data points to one of the fastest-growing stablecoin card programs in Southeast Asia.

Those multiples, while striking, come with context. One of StratisX’s major crypto card partnerships, with RedotPay,…