StraitsX Sees Massive Growth in Stablecoin Card Transactions
- StraitsX’s card transaction volume surged by 40 times between Q4 of one year and the same period the next.
- The number of cards issued increased by 83-fold, highlighting rapid adoption in Southeast Asia.
- Global monthly volumes for crypto cards rose from approximately $100 million in early one year to over $1.5 billion by late the next year.
- Visa captured over 90% of on-chain card volume, with stablecoin-linked card spend reaching a $3.5 billion annualized run rate.
- StraitsX processed nearly $30 billion in cumulative stablecoin transactions, emphasizing its significant market presence.
- The company plans to launch its stablecoins, XSGD and XUSD, on the Solana blockchain by March.
StraitsX is positioning itself as a leader in the stablecoin market, focusing on making transactions seamless and invisible to users while supporting significant growth in card transactions and volumes across Southeast Asia.
With a remarkable increase of 420% in total crypto card spending tracked on-chain throughout one year, StraitsX aims to further expand its influence beyond Singapore through initiatives like Project BLOOM.Source
