SOverview
StraitsX provides regulated digital payment infrastructure focused on fiat-backed stablecoins, issuing XSGD and XUSD that are fully collateralized by cash deposits and government bonds with partner banks. It enables API-based fiat and stablecoin on- and off-ramps, a StraitsX Swap for fee-free stablecoin trades, and OTC services for large-volume deals, all supporting cross-border payments and real-time settlement. The company differentiates itself through MAS regulation as a Major Payment Institution, a broad network of partners (Grab, Alipay+, Coinbase, Visa), and interoperability across multiple blockchains for scalable stablecoin payments. Its goal is to build a trusted, scalable layer for stablecoin payments and settlement in Southeast Asia, increasing merchant liquidity and lowering fees as adoption grows.
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About StraitsX
Industries
Company Size
201-500
Company Stage
Early VC
Total Funding
$10M
Headquarters
Singapore, Singapore
Founded
2020
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Simplify's take
What believers are saying
- Visa expanded StraitsX stablecoin card issuing to over 100 markets on October 15, 2026.
- StraitsX joined MAS's BLOOM pilot with DBS, J.P. Morgan, Standard Chartered, UOB, Circle, Temasek.
- On October 1, 2026, StraitsX announced native XSGD and XUSD issuance on Monad.
What critics are saying
- Stablecoin margin compression intensifies as Visa-backed rivals and RedotPay copy StraitsX's card play.
- MAS enforcement or reserve-account failures would instantly break trust in XSGD and XUSD.
- If Grab, KBank, or Monad delays slip, StraitsX becomes a niche infrastructure vendor.
What makes StraitsX unique
- MAS-licensed MPI status and SCS compliance make StraitsX bank-compatible in Singapore.
- XSGD and XUSD span Ethereum, Polygon, Hedera, Avalanche, Solana, and Monad.
- Grab, Visa, Alipay+, and DBS partnerships embed StraitsX into real payment rails.
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Funding
Total Funding
$10M
Above
Industry Average
Funded Over
1 Rounds
Company News
Visa's Singapore hubs are a bet on the rulebook, not the headcount. Six hubs and 1,500 staff make a tidy headline, but the real story is Visa's decision to build its digital-money and AI-agent work next to the regulator shaping both. Visa said on 5 November that it has set up six global capability hubs at a new Solution Center at Paya Lebar Green in Singapore. The site will house more than 1,500 people across technology, product, cybersecurity, engineering and innovation, and Visa says the output is meant for its global network rather than for the region alone. The 1,500 figure is the one that will get repeated, and I think it is the least interesting part of the announcement. What matters more is which work Visa chose to place in Singapore, and who it will be sitting next to. My read is that this is a move to get close to the people writing the rules for digital money and AI agents. It is also thinner on disclosure than the headline suggests. What Visa actually announced. The six "hubs" are six focus areas, grouped under three domains. The release does not give them formal names or name anyone running them. * AI and commerce: applied AI for payments and fintech, and agentic commerce, meaning how AI agents can transact securely with merchants, consumers and payment networks. * Next-generation payments: research into digital money, stablecoins and programmable payments, plus wallets and alternate payment methods. * Trust, security and resilience: cybersecurity, and quantum computing for finance, including preparation for what Visa calls "a quantum-secure future". Visa names AXS, DBS, DCS, FOMO Pay, Nium and StraitsX as partners, and says it is taking part in the Monetary Authority of Singapore's BLOOM initiative. It does not say what any of those firms will do with it. The gaps are worth stating plainly. The release gives no investment figure and no floor area. It does not say how many of the 1,500 are new hires and how many are existing staff changing buildings. Beng Kong Pee, executive vice president at the Singapore Economic Development Board, promises "new high-value jobs for Singaporeans" but gives no count. TNGlobal's report carries the same core facts, and I found no coverage that adds independently sourced numbers. Treat all of this as Visa's own account. There is one useful comparison. In 2014 Visa announced about 185 new technology R&D jobs in Singapore, as part of a global plan that also included a new technology centre in India. That figure was an increment and this one is a total, so they don't compare like for like. The direction is still clear. Rajat Taneja, quoted in both releases, has gone from executive vice president of technology to president, technology, and his Singapore footprint has grown with him. Why it matters. I see three reasons, and the regulatory one comes first. BLOOM is the piece of this announcement I would underline. MAS launched it in 2025 to extend settlement using tokenised bank liabilities and well-regulated stablecoins. According to Crowdfund Insider's account, its scope runs across G10 and Asian currencies, and its work streams include programmable compliance and agentic payments. Read that list next to Visa's hub list and the overlap is hard to miss. A card network whose core business is moving value between regulated parties has every reason to want a seat in the room where stablecoin settlement gets its operating norms. Visa has said little about its role in BLOOM, but I think the proximity is the point. The second reason is that Singapore already works as Visa's test bed. In April it launched Visa Agentic Ready with 13 issuers, including DBS, OCBC, UOB, Standard Chartered and StraitsX, giving them a way to test agent-initiated transactions in a controlled, production-grade environment. That followed an early pilot with DBS in March. DBS, DCS and StraitsX appear on both the Agentic Ready list and the new partner list. Stablecoin work has a similar history: by mid-2025 The Paypers reported that Visa had settled more than $225 million in stablecoin volume and was working with StraitsX on seven-day settlement. So the hubs look to me less like a new direction and more like existing Singapore experiments being given a permanent address. The third reason is competition. Mastercard said in April it planned an AI Centre of Excellence in Singapore later this year, describing it as its largest innovation hub in Asia-Pacific and combining research, cybersecurity and data expertise. Both networks are now placing their AI and security work in the same city, near the same banks and the same regulator. When two rivals make the same location bet within a year, I read that as a judgment about where the standards conversation is happening. Quantum is the long-dated item on the list, and the one I take most seriously precisely because it has no near-term revenue story. A June job listing for a lead research scientist in quantum computing at Visa in Singapore suggests the hiring predates this week's announcement. Being honest about what that buys, though, the release offers research and preparation, and no timeline or deliverable. Where I'm sceptical. Stephen Karpin, Visa's Asia Pacific regional president, says Singapore is "increasingly where the future of commerce is being built". That is a big claim for a press release, and a hub should be judged by what ships from it. "Capability hub" is a label, and a label costs nothing to apply to an existing team. There is also a design risk. Singapore is compact, well regulated and home to a concentrated set of sophisticated banks. A product that clears that environment has passed a friendly exam. Whether an agent-payment flow or a stablecoin settlement model built around Singapore's rulebook travels to markets with different rules, and far messier merchant bases, is an open question. For founders in India and elsewhere, I would treat what comes out of Paya Lebar Green as a preview of how Visa thinks, and not as a template that will arrive intact. What to watch. * Singapore FinTech Festival, 18-20 November: Visa will be on the floor. A named product or pilot tied to a specific hub would tell Paytmpayments more than this release did. * The headcount split: how many of the 1,500 roles are new, and how many sit in the research areas Visa highlights. * Visa's BLOOM role: whether participation turns into a defined trial, and with which partners. * Agentic Ready's next phase: phase one covers issuer readiness, and Visa expects more partners this year. Live volumes would be the real test. * Mastercard's centre: when it opens, and whether it discloses what Visa didn't.
Visa, StraitsX to expand stablecoin cards globally. Singapore-based StraitsX, a stablecoin payments company that is part of the Fazz group, said on October 15 that it was working with Visa to expand stablecoin-backed card issuing to more than 100 markets. The move extends its existing service in Asia for fintech firms, wallets, and digital asset companies. StraitsX said eligible card programs would remain subject to regulatory, compliance, and Visa requirements. It added that its Asia card business had reached more than US$6 billion in annualized transaction volume. Singapore's central bank, the Monetary Authority of Singapore, finalised a regulatory framework in 2023 for single-currency stablecoins issued in Singapore and pegged to the Singapore dollar or G10 currencies. StraitsX has received approval in principle to issue such tokens under that framework. The partnership also aligns with Visa's broader effort to enable cards tied to stablecoins. Recent StraitsX developments. Stay updated on the go with our mobile app. Get latest insights with smoother, more personalized experience through TIA mobile app. How would you feel if you could no longer use Tech in Asia? Share, tag us, and land on our Wall of!
RedotPay turns three: its TOKEN2049 Singapore highlights. Last week, RedotPay turned three - and RedotPay group got to celebrate its anniversary at one of the world's biggest crypto conferences: TOKEN2049 Singapore. With over 25,000 attendees from around the globe, stablecoins and payments sat at the heart of this year's discussions. But it didn't stop there. Real-world stablecoin spending followed that momentum, as RedotPay card spend saw a 17.8% surge across local merchants during the conference week. This signals the industry's progress towards real-world adoption, and the best part of TOKEN2049 was getting to engage with the very people progressing this narrative - its users, partners, and the broader Web3 community. Here's a look back at some highlights which made its TOKEN2049 Singapore 2026 experience one-of-a-kind. Its three year anniversary: RedotPay house. RedotPay group kicked off the conference week with its three year anniversary event at the Red Dot Design Museum, joined by the RedotsClub community, its users, valued partners, and industry leaders. The night featured exclusive birthday-themed merchandise, interactive games, and exciting conversations about the future of payments. RedotPay group is grateful to have celebrated another milestone with the people who made RedotPay what it is today. Thank you for being with RedotPay group on its journey since 2023! Payment Builders Night: scaling payment infrastructure. A key aspect of TOKEN2049 is connecting with like-minded people. As such, RedotPay group hosted Payment Builders Night together with StraitsX, Monad, and Avenia, joining the top voices in the stablecoin payments sector to cultivate partnerships and discuss what's next. RedotPay x Sui Basecamp 2026. In light of its partnership with Sui, RedotPay group were silver sponsors at Sui Basecamp 2026. This gave RedotPay group an opportunity to engage with the best of the Web3 community as one of the first stablecoin-based card providers to support native USDC on the Sui network (more details here). MonkeDao lunch: accelerating the Solana ecosystem. To top it off, RedotPay group teamed up with MonkeDAO, one of the oldest and most recognized ecosystems in the Solana space. The event brought together the world's most dedicated Monkes for a fun lunch and networking. This year's get together was its first with the MonkeDAO community, but the start of many more to come. Thank you for three years. RedotPay group left TOKEN2049 Singapore with one big lesson in mind: progress is made together, and should be celebrated together. Over a few whirlwind days, RedotPay group joined forces with other leaders in the stablecoin payments space to cultivate new partnerships. RedotPay group connected with its users and community to further hone its product development. But most importantly, RedotPay group had a chance to recognize its industry's progress with the people that matter. For these reasons, RedotPay group consider this year's conference week a deeply worthwhile experience. Thank you to everyone who shared their energy with RedotPay group this year - RedotPay group look forward to seeing everyone at its next event! Disclaimer: This communication is for informational purposes only and does not constitute legal, financial, investment, or other professional advice. It does not create any representation, warranty, or contractual commitment. This communication does not represent an offer or solicitation to buy or sell any products, securities, or financial instruments or related service, including in any jurisdiction where that activity is restricted, or where RedotPay group (as defined in its Terms and Conditions) does not offer or advertise that product or service. For detailed terms pertaining to this communication and the relevant information, please refer to [Full Disclaimer Link].
Joint operation by police, crypto exchanges stops scam victims from losing almost $9 million. Published Sep 03, 2026, 11:15 PM Updated Sep 03, 2026, 11:35 PM SINGAPORE - More than 355 victims avoided losing over $8.94 million to cryptocurrency scams in July and August thanks to a joint operation by the police and digital payment token (DPT) service providers. In a statement on Sept 3, the police said the fourth anti-cryptocurrency scam operation took place from July 1 to Aug 31. The Singapore Police Force's Cyber Command partnered DPT service providers, including Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX and Upbit. The police said officers conducted advanced blockchain analysis using tools from industry leaders Chainalysis and TRM Labs to identify victims of different types of scams, including government officials impersonation, investment and job scams. Participating DPT service providers supplied customer information that helped to identify victims, allowing officers to intervene over the phone and in-person, preventing millions of dollars in losses. The police said they also shared blockchain intelligence derived from the operation with foreign law enforcement counterparts, including the United States' Federal Bureau of Investigation and the Cybercrime Squad New South Wales Police Force. This led to the identification of 50 overseas victims.
Asia FinTech Awards 2026 celebrates the best of Asia's fintech industry. [email protected] The winners of the Asia FinTech Awards 2026 have been revealed, bringing together the organisations, teams and individuals shaping the future of financial services across Asia. The Asia FinTech Awards 2026 took place on 21 August at The Glasshouse, Andaz Singapore, bringing together fintech leaders, innovators and industry professionals from across the region for an evening celebrating achievement, innovation and excellence. Now in its latest edition, the awards recognised outstanding contributions across 22 categories, spanning payments, banking, digital assets, wealth management, RegTech, InsurTech, Web3, investment technology, personal finance and leadership. The breadth of this year's winners reflects the continued strength and diversity of Asia's fintech ecosystem, with recognition going to established industry leaders alongside emerging businesses, teams and talent making their mark across the region. Celebrating this year's winners. The 2026 awards recognised an exceptional range of fintech businesses, teams and individuals from across Asia. Finmo Tech took home the prestigious FinTech of the Year title, while Hydra X was among the evening's standout winners, securing both the Digital Assets Award and Web3 Award. StraitsX also received two accolades, taking home Best Employer Award and FinTech Partner Award. Across the 22 categories, this year's winners demonstrated innovation, leadership and meaningful impact across every corner of the fintech ecosystem, from payments and banking to digital assets, wealth management and emerging technology. Recognising the people behind fintech innovation. The awards also celebrated the individuals and teams driving progress across the industry. Lionel Tan of Airwallex was named Rising Star of the Year, sponsored by dtc pay, recognising his leadership, commercial success and contribution as an emerging force within the industry. Tianwei Liu of StraitsX received Director of the Year, while CredAble was recognised as Team of the Year, highlighting the importance of collaboration and leadership alongside technological innovation. A number of finalists were also recognised as Highly Commended, reflecting the exceptionally strong standard of entries across this year's categories. An independent judging panel. The 2026 Asia FinTech Awards were judged by an independent panel of experienced industry leaders, chaired by Holly Fang, President of the Singapore FinTech Association. The judges brought expertise from across fintech, financial services and technology, dedicating their time to reviewing this year's submissions and selecting the finalists, winners and Highly Commended entries. Celebrating Asia's fintech community. Hosted by Michelle Martin, the ceremony brought the region's fintech community together for an evening of celebration, recognition and networking at The Glasshouse, Andaz Singapore. The event provided an opportunity to celebrate the achievements of the industry while recognising the people and organisations helping to shape the future of financial services across Asia. The Asia FinTech Awards team would like to congratulate all winners, Highly Commended finalists and shortlisted organisations and individuals, while thanking the independent judging panel, sponsors and everyone who contributed to making the 2026 awards a success. The Asia FinTech Awards are part of FinTech Intel's commitment to recognising and celebrating the people and organisations shaping the future of financial services across Asia. About [email protected]
StraitsX is Hiring for 24 Jobs on Simplify!
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About StraitsX
Industries
Company Size
201-500
Company Stage
Early VC
Total Funding
$10M
Headquarters
Singapore, Singapore
Founded
2020
StraitsX is Hiring for 24 Jobs on Simplify!
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs