StraitsX, a Southeast Asian digital asset infrastructure provider, has partnered with RedotPay and Visa to launch a new digital asset-backed card programme in Singapore.
The company is the Visa BIN sponsor for the initiative, enabling users to convert and spend their digital assets at millions of Visa merchants globally.
StraitsX’s infrastructure facilitates the seamless conversion of digital assets into spendable funds, ensuring compatibility with traditional payment systems.
The card programme allows users to transact with digital assets while maintaining compliance with regulatory standards.
StraitsX implements security measures to safeguard transactions and user data.
The RedotPay card programme, which soft-launched in late 2024, aims to provide a secure and user-friendly experience.
Visa supports initiatives like this to enhance digital asset payment adoption, allowing more users to integrate digital assets into everyday transactions.
Jason Tay, Head of Commercial at StraitsX said,
“As a key enabler of digital asset payments in Southeast Asia, StraitsX is excited to support RedotPay in launching this transformative card programme. This initiative marks a significant milestone in expanding the real-world utility of digital assets.
By leveraging our technology and compliance expertise, we are making it easier than ever for businesses and consumers to integrate digital assets into their everyday financial activities.”
Adeline Kim, Visa Country Manager for Singapore & Brunei, said,
“Based on a Visa study, close to six in 10 consumers in Singapore are aware of digital assets. In fact, over 35 per cent of digital asset owners in Singapore use them for retail purchases.
We are happy to support our partners who are helping more digital asset users have a seamless payment experience and access to digital payments leveraging their Visa cards for face-to-face or online transactions.”
Featured image credit: Edited from Freepik
