StraitsX, the Singapore-based company, is significantly expanding its stablecoin-based payment network across Asia, set to connect Singapore, Thailand, Taiwan, and Japan with real-time cross-border settlement infrastructure launching in the second quarter of 2026.
🇹🇭🇸🇬 Initial Focus: Singapore-Thailand Interoperability
The expansion kicks off with a partnership with Kasikornbank (KBank) of Thailand to achieve QR code payment interoperability between Thailand's national QR Payment system and Singapore's SGQR framework.
- Settlement Asset: The XSGD stablecoin will serve as the underlying settlement asset for all cross-border transactions.
- Phase One: Thai travelers in Singapore can use KBank's Q Wallet (which utilizes a proprietary blockchain) to pay at merchants that accept GrabPay and PayNow. Merchants receive instant settlement in SGD, while the consumer uses their familiar local interface.
- Phase Two: Pending regulatory approval, the network will be extended to allow Singaporean travelers to use their home wallets for payments in Thailand, with seamless settlement in Thai Baht.
Building a Regional Settlement Framework
StraitsX is concurrently working to integrate into a wider regional framework that includes regulated payment platforms in Taiwan and Japan.
- Regional Scope: This expansion will allow users in these markets to make payments across participating merchant networks in Southeast Asia.
- Behind-the-Scenes Settlement: All cross-border transactions will be settled instantly and transparently using XSGD in the backend.
- CEO Vision: CEO Tianwei Liu highlighted that this move demonstrates how trusted digital assets can provide real-time settlement, transparent FX conversion, and interoperability at a regional scale, positioning Asia at the forefront of stablecoin-powered global payments.
This initiative is aimed at cementing stablecoins as the infrastructure for everyday, borderless financial activity across a significant portion of the Asian market.
November 2025, Cryptoniteuae