StraitsX processed a record $438.2 million in card payments in September 2026, with its cumulative transaction count surpassing 56 million to date. StraitsX ranks among top stablecoin card issuers by transaction count, highlighting the growing real-world utility of stablecoins for everyday payments.
Today, StraitsX becomes the latest stablecoin card issuer to share its data with Paymentscan, giving the market its first public view of one of the largest businesses in stablecoin payments.
It is the first custodial issuer to list on Paymentscan, and its decision to go public with its data sets a new benchmark for transparency in stablecoin payments.
September marked the company’s 13th consecutive monthly record, with annualised card volume last month exceeding $5.2 billion. StraitsX ranks second among all issuers on Paymentscan by card volume and first globally by transaction count.
StraitsX's Card Issuance Business in Numbers
StraitsX’s card business is 12 times larger than it was a year ago. Monthly spend has grown from $36.6 million in September 2025 to $438.2 million in September 2026, and every month in between set a new record.
October data is partial through October 14th.
As we're noting across the stablecoin payments space, transaction frequency and the ability to support everyday spending are increasingly important measures of real-world stablecoin utility. To date, StraitsX cards have processed over 56 million transactions with an average transaction size of approximately $56.
This puts StraitsX's volumes firmly within institutional territory: the issuer averaged $14.6 million in daily spend in September, and is on track to set new highs in October with daily spend averaging $15.6 million so far this month.
The Full Stack Behind the User-Facing Brands
StraitsX describes itself as a full-stack issuer. It acts as a licensed issuer and Visa BIN sponsor, which lets partners launch virtual and physical cards without their own scheme membership. It also processes transactions in-house, covering authorisation, clearing and settlement, rather than splitting those functions with a third-party processor.
Partners can prefund in XUSD, XSGD, USDC, USD or SGD. StraitsX converts funds to USD for international transactions and to SGD for domestic Singapore ones. It also supports direct stablecoin settlement for XUSD and XSGD. Its published settlement windows are T+0 domestically and internationally.
This stack powers several well-known stablecoin card programs, including RedotPay, OKX Card, PionexPay and UPayOfficial_EN. Each partner is individually licensed, in line with StraitsX’s policy of working exclusively with regulated businesses. StraitsX also supports card payments through Apple Pay, Google Pay and Samsung Pay, extending the reach and accessibility of its programs across 100 markets it currently serves through Visa.
The most prominent of its customers is RedotPay, the leading card program tracked by Paymentscan, with $403.2 million in card volume in September.
October data is partial through October 14th.
Advancing Transparency for Stablecoin Payments
StraitsX’s listing on Paymentscan brings one of the largest card businesses in stablecoin payments into public view for the first time.
Because StraitsX is a custodial issuer, its metrics cannot be verified onchain by Paymentscan. As we continue to widen our coverage across the stack, we hope to reconcile on- and offchain data associated with card programs, issuers, the networks themselves, and other infrastructure providers.