Between the fourth quarter of 2024 and the same quarter last year, that volume surged 40-fold, Co-founder and CEO Tianwei Liu told CoinDesk Sunday (March 29). The number of cards issued saw an even sharper uptick, increasing 83-fold during the same period.
Coindesk says these numbers suggest one of the fastest growing stablecoin card programs in Southeast Asia, while adding some context. Among StratisX’s major crypto card partnerships is one with RedotPay, which only soft-launched in late 2024.
The report also points to data from Artemis Analytics on the broader crypto industry estimating that global monthly volumes climbed from roughly $100 million in early 2023 to more than $1.5 billion by late 2025, a 106% compound annual growth rate.
This, Coindesk added, indicated that StraitsX is not simply outperforming an otherwise static market, but being lifted by a rising tide.
StraitsX’s core offering, the report said, functions in the background. Instead of a customer-facing app, it offers infrastructure for others to use, serving as a Visa BIN sponsor, allowing partners like RedotPay and UPay to issue cards.
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When users pay with these cards, stablecoins settle the transactions in real time, with local currency instantly showing up on the other end, the report added.
“No user cares about whether a payment runs on stablecoins or fiat; they only care if the payment goes through,” Liu said.
In other stablecoin news, recent research from PYMNTS Intelligence finds that these tokens, once touted as a gate to a new crypto-centric monetary system, are increasingly playing a different role in the world of corporate finance.
Data from the report “Waiting for Certainty: Why Most CFOs Are Holding Back on Crypto and Stablecoins” finds that 88% of companies that receive stablecoins immediately convert them into U.S. dollars.
“The implication is both subtle and profound, showing how for most chief financial officers, stablecoins are not being treated as a store of value, but as a faster, more efficient payment rail,” PYMNTS wrote Monday (March 30).
This distinction might help reframe stablecoins from a crypto-native asset class into part of the financial infrastructure more akin to Swift or ACH than to treasury holdings, the report said.
“And it may help explain why, despite years of hype and billions in market capitalization, stablecoin adoption among enterprises remains cautious, selective and highly pragmatic,” PYMNTS added.
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