Stablecoin payment platform StraitsX has raised $10 million from UQPAY and Japan’s digital services provider NTT DOCOMO. The funding will accelerate Web3 adoption across Asia and expand stablecoin use in real financial transactions.
The company plans to develop stablecoin infrastructure that integrates with both fiat payment networks and Web3 ecosystems, enabling smoother interaction between enterprises, banks, and blockchain platforms. StraitsX 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 activity. UQPAY CEO Jack Lee added that their shared mission is to build a regulated and seamless payment ecosystem that unites traditional finance with Web3.
Similar Companies Are Racing to Build Stablecoin Payment Networks
StraitsX is not alone in this movement. Major 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 commerce.
The new capital will help StraitsX expand its regional footprint and prepare for a unified network that connects stablecoin rails and fiat systems across Asia. With major partnerships and rising demand for blockchain-based settlement, StraitsX plans to play a leading role in Asia’s next generation of digital payments.
Source: https://coinpaper.com/11851/stablecoin-firm-straits-x-raises-10-m-to-power-asia-s-web3-payments
