StraitsX, a Singapore-based digital asset infrastructure provider, has partnered with Hong Kong-based cryptocurrency payment firm RedotPay and global payment firm Visa to advance digital asset payments.

StraitsX said in a statement on Tuesday that it supports the launch of RedotPay’s innovative digital asset-backed card program in Singapore.

As the Visa BIN sponsor, StraitsX said it plays a pivotal role in enabling this initiative, ensuring that users can seamlessly transact with their digital assets across Visa’s global merchant network.

The new card program enhances the usability of digital assets for everyday payments.

By leveraging StraitsX’s robust infrastructure, users can effortlessly convert and spend their digital assets across millions of VISA-accepting merchants worldwide.

This initiative reinforces StraitsX’s commitment to bridging the gap between digital assets and traditional finance, making digital asset payments as seamless as conventional payment methods.

StraitsX said it remains dedicated to upholding the highest compliance and security standards in digital asset payments.

As the BIN sponsor, it said it ensures that the program adheres to regulatory requirements while implementing robust security measures to safeguard user transactions and data, fostering confidence in the adoption of digital asset payments.

“As a key enabler of digital asset payments in Southeast Asia, StraitsX is excited to support RedotPay in launching this transformative card program,

“This initiative marks a significant milestone in expanding the real-world utility of digital assets,” said Jason Tay, Head of Commercial at StraitsX.

“By leveraging our technology and compliance expertise, we are making it easier than ever for businesses and consumers to integrate digital assets into their everyday financial activities,” he added.

Michael, Chief Executive Officer of RedotPay, said this collaboration marks a significant step forward in the firm’s mission to make crypto payments accessible and user-friendly, promoting the mass adoption of cryptocurrencies in payment systems.

“We are thrilled to partner with Visa and StraitsX to bring this innovative card program to Singapore,

“Our users will enjoy the flexibility of spending their digital assets just like traditional currency,” he added.

Adeline Kim, Visa Country Manager for Singapore and Brunei, said based on a Visa study, close to six in ten consumers in Singapore are aware of digital assets.

“In fact, over 35 per cent of digital asset owners in Singapore use them for retail purchases,

“We are happy to support our partners who are helping more digital asset users have a seamless payment experience and access to digital payments leveraging their Visa cards for face-to-face or online transactions,” she said.

She noted Visa is committed to promoting innovation with our valued partners, and this initiative with StraitsX and RedotPay aligns with the firm’s vision to become the best way to pay and be paid.

It is noted that the RedotPay card program was soft-launched in late 2024, offering a secure and user-friendly interface designed for convenience and financial flexibility.

StraitsX said the firm remains committed to driving innovation in digital asset payments, ensuring that businesses and individuals can confidently integrate digital assets into everyday transactions.

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