StraitsX, a Singapore-based backend provider for stablecoin-linked cards, has reported a significant surge in its volumes across Southeast Asia.
The company's data shows that between Q4 2024 and Q4 2025, the transaction volume tied to its card program increased by 40 times, while the number of cards issued rose 83-fold.
This growth is part of a broader trend in the adoption of crypto cards globally. According to industry estimates, global monthly crypto card volumes increased from around $100 million in early 2023 to over $1.5 billion by late 2025, representing a compound annual growth rate of 106%.
The expansion of infrastructure providers and partnerships with regional payment networks are contributing to this growth. StraitsX operates primarily as a backend provider, enabling partners to issue stablecoin-linked cards rather than offering consumer-facing products.