StraitsX to Expand Stablecoin Payment Network Across Asia by Mid-2026

StraitsX announced Tuesday it will extend its stablecoin-based payment network across Asia, connecting Singapore, Thailand, Taiwan, and Japan through real-time cross-border settlement infrastructure set to launch in the second quarter of 2026.

To start, the Singapore-based company is partnering with Thailand's Kasikornbank (KBank) to enable QR code payment interoperability between Thailand's national QR Payment system and Singapore's SGQR framework, with the XSGD stablecoin serving as the settlement asset for cross-border transactions.

Under the first phase of the Thailand-Singapore corridor, Thai travelers visiting Singapore will be able to pay at GrabPay and select PayNow-enabled merchants using Q Wallet by KBank, which utilizes Thailand's Q-money blockchain-based e-money. Merchants will receive instant settlement in Singapore dollars while consumers pay through familiar local interfaces.

A second phase, pending regulatory approval, will allow Singapore travelers to use their home wallets for payments in Thailand with seamless Thai baht settlement.

"By embedding XSGD into established consumer rails like GrabPay and Q Wallet by KBank, we're showing how trusted digital assets can deliver real-time settlement, transparent FX conversion, and interoperability at scale," Tianwei Liu, CEO and co-founder of StraitsX, said in a statement.

Concurrently, StraitsX will integrate into a regional settlement framework connecting regulated consumer and institutional payment platforms in Taiwan and Japan. The expansion will enable users in those markets to make payments across participating merchant networks in Southeast Asia, with all cross-border transactions settled in XSGD behind the scenes.

The network aims to provide instant cross-border payments with transparent foreign exchange conversion and regulatory alignment across participating markets, demonstrating how stablecoins can function as infrastructure for everyday financial activity at regional scale.

The announcement follows StraitsX's September introduction of Singapore's first stablecoin "scan-to-pay" experience and reflects growing momentum for stablecoin adoption in Asian payment systems.

"Asia is setting the pace for how stablecoins will power the next phase of global payments," Liu said. "By embedding stablecoin settlement into the region's most trusted consumer and institutional payment rails, we're creating the infrastructure for programmable, borderless finance that can operate safely, transparently, and at scale."