Stablecoin Firm StraitsX Raises $10M to Grow Web3 Payments in Asia

Stablecoin payment platform StraitsX has raised $10 million from UQPAY and Japan’s digital services provider NTT ￰0￱ funding will accelerate Web3 adoption across Asia and expand stablecoin use in real financial ￰1￱ company plans to develop stablecoin infrastructure that integrates with both fiat payment networks and Web3 ecosystems enabling smoother interaction between enterprises banks and blockchain ￰2￱ will focus on three main areas: Business API — Tools for real-time settlements and seamless integration of fiat and stablecoin payments Cross-border payments — On-chain channels for faster and more cost-efficient international transfers

with PayFazz leading rollout in Indonesia Card issuance — In partnership with RedotPay and VISA users will be able to spend stablecoins via physical and virtual cards with instant fiat conversion StraitsX co-founder and CEO Tianwei Liu said the company aims to make stablecoins a core part of global payments infrastructure proving they are suitable for real-world financial ￰3￱ CEO Jack Lee added that their shared mission is to build a regulated and seamless payment ecosystem that unites traditional finance with ￰4￱ Companies Are Racing to Build Stablecoin Payment Networks StraitsX is not alone in this ￰5￱ players worldwide are building stablecoin-based payment rails: Circle (USDC) partners with Visa and Mastercard for on-chain payments Ripple is developing institutional settlement solutions for banks and remittance firms PayPal (PYUSD) enables stablecoin transfers inside its consumer network Alipay and WeChat Pay (Asia) are exploring blockchain for cross-border settlement pilots Just like StraitsX

these companies see stablecoins as faster cheaper and more predictable than legacy settlement systems especially in cross-border payments and digital ￰6￱ new capital will help StraitsX expand its regional footprint and prepare for a unified network that connects stablecoin rails and fiat systems across ￰7￱ major partnerships and rising demand for blockchain-based settlement

StraitsX plans to play a leading role in Asia’s next generation of digital payments.