StraitsX is set to connect Singapore, Thailand, Taiwan, and Japan through a stablecoin-powered payment network, enabling real-time cross-border settlement from the second quarter of 2026.
The Singapore-based fintech firm is embedding its XSGD stablecoin into existing consumer and institutional payment systems to facilitate seamless transactions across multiple Asian markets.
The first phase of the initiative involves a partnership with Thailand’s Kasikornbank (KBank), allowing QR code payment interoperability between Thailand’s national QR Payment system and Singapore’s SGQR framework.
Thai travellers visiting Singapore will be able to use Q Wallet by KBank, Thailand’s blockchain-based e-money platform Q-money, to pay at GrabPay and selected PayNow-enabled merchants.
Merchants will receive instant settlement in Singapore dollars, while consumers continue using familiar local interfaces.
The second phase, pending regulatory approval, will allow Singapore travellers to use their home wallets to pay merchants in Thailand, with settlements completed in Thai baht.
Tianwei Liu, CEO and co-founder of StraitsX, said:
“By embedding XSGD into established consumer rails like GrabPay and Q Wallet by KBank, we’re showing how trusted digital assets can deliver real-time settlement, transparent FX conversion, and interoperability at scale.”
Beyond Thailand and Singapore, StraitsX will extend the network to Taiwan and Japan by integrating into a regional settlement framework connecting regulated consumer and institutional payment platforms.
Users in these markets will be able to make payments across participating Southeast Asian merchant networks, with all cross-border transactions settled in XSGD behind the scenes.
The network aims to provide instant cross-border payments with transparent foreign exchange conversion while maintaining compliance with local regulations.
This model seeks to demonstrate that stablecoins can serve as reliable infrastructure for everyday financial activity across multiple countries.
The Thailand-Singapore corridor serves as a testing ground to explore how stablecoins can strengthen payment ecosystems.
By working within trusted payment rails, StraitsX aims to maintain user familiarity while introducing stablecoin-based settlement.
Liu explained:
“This sets the foundation for a future where stablecoins become the invisible infrastructure that powers everyday payments.”
The expansion builds on StraitsX’s September launch of Singapore’s first stablecoin “scan-to-pay” experience and reflects growing momentum for stablecoin adoption in Asian payments, combining transparency, speed, and regulatory alignment at a regional scale.
The QR interoperability roadmap involves collaboration with KBank and technology partner Orbix to connect Thailand’s national QR system with Singapore’s SGQR framework.
Consumers will transact through familiar local interfaces while merchants receive settlement in their domestic currency in real time.
This approach allows for instant payment and FX conversion without disrupting existing user experiences.
By establishing this corridor and integrating additional Asian markets, StraitsX aims to create a unified payment network that links Southeast and Northeast Asia, enabling fast, transparent, and compliant cross-border transactions at scale.
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