Singapore-based stablecoin settlement company StraitsX has received a $10 million investment from UQPAY a provider of cross-border payment solutions. This funding is meant to help StraitsX expand its operations across Asia.
The funding round also includes continued support from NTT DOCOMO, Japan’s leading mobile and digital-services company, showing confidence in StraitsX’s growth plans.
StraitsX says this investment will help the company connect stablecoin and traditional payment networks. It will also improve payment links between businesses, banks, and Web3 platforms across Asia.
This investment marks a new phase for StraitsX as it moves from being a Southeast Asian stablecoin pioneer to a multi-market leader in regulated digital payments.
StraitsX, part of Fazz Financial Group, plans to grow its enterprise APIs, cross-border payments, and card issuance programs. They want to make stablecoin payments faster, cheaper, and easier for businesses and institutions.
Over the past year, StraitsX listed its XUSD and XSGD stablecoins on major exchanges like Coinbase and launched Singapore’s first stablecoin scan-to-pay service, OKX Pay. With the new investment, the company will expand multi-currency payments and programmable settlement corridors across Asia.
StraitsX works with local partners like PayFazz in Indonesia to connect digital stablecoins with real-world payment networks. This allows users to send remittances, access cash, and complete on-chain settlements across major Asian markets.
The company will introduce virtual and physical cards that let users spend stablecoins at regular merchants. Through partnerships with RedotPay and Visa, StraitsX ensures that transactions are instantly converted to fiat, fully compliant, and transparent, making stablecoins usable for everyday global payments.
“This marks the start of a new growth chapter for StraitsX. Over the past few years, we’ve proven that regulated stablecoins can power real-world payments and settlement at scale,
“With the latest support from UQPAY, which builds on a growing network of strategic partners, we’re expanding that foundation across Asia to deepen cross-border connectivity, enhance on- and off-ramps between stablecoins and fiat, and enable enterprises to move value seamlessly in a trusted and compliant way,” said Tianwei Liu, Co-founder and Chief Executive Officer of StraitsX.
He said this partnership moves the company closer to a future where stablecoins are not just used for Web3, but become a foundation for global finance.
Jack Li, CEO of UQPAY, added that the partnership helps the company offer advanced payment solutions that connect decentralized finance (crypto) with traditional finance.
With both companies expanding in Asia, he believes their goals match well in creating smooth, legal, and borderless payment experiences.
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