Singapore's StraitsX, which provides stablecoin settlement infrastructure, has announced a partnership with Visa to issue cards linked to stablecoin balances in more than 100 markets. Its activity had been focused on Asia, where its card programmes passed an annualised transaction volume of $6 billion. The service targets fintechs, wallets and digital payment token providers. Rollout in each market depends on local regulatory requirements and Visa's rules.
What it means: Cards that draw on stablecoin balances are currently the most practical way to spend digital dollars in the real world. The merchant usually sees no difference, because it is paid in local currency through the card network. That means consumer use of stablecoins can grow without any change at shop tills. For the Greek market this matters in two ways. Tourists from countries where such cards are popular will pay smoothly at Greek POS terminals. And Greek users may soon get access to similar cards from European providers. MiCA plays a role here: in the EU, providers must use stablecoins authorised under the regulation and hold the right licences, and in many cases each purchase may be treated for tax purposes as a disposal of a crypto asset. For banks the trend is a challenge, as part of everyday spending moves outside traditional accounts. Greek fintechs considering a similar product should study the tax treatment for users carefully.
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