WEEKLY WRAP · 2026-03-28

Mar 22-28, 2026

Reviewed by Card Pilled Editorial · Published 2026-03-28 · Last verified 2026-03-28

TL;DR · This Week

4 quick hits · market context · 1 cards updated

INDUSTRY

Stablecoin Card Spending Hits $18B Annualized as SEA Surges

Crypto card spending now exceeds $18 billion on an annualized basis, nearly matching peer-to-peer stablecoin transfers at $19 billion. In Southeast Asia, StraitsX reported a 40x surge in transaction volume and 83x increase in card issuance between 2024 and 2025. RedotPay alone processed over $2.95 billion in card volume in 2025. The ‘invisible stablecoin’ thesis, where users don’t know they’re using crypto, is playing out fastest in Asia.

Source: CoinDesk RedotPay →

LAUNCH

Nium Launches First Dual-Network Stablecoin Card Platform

San Francisco-based Nium launched the first enterprise platform to span both Visa and Mastercard simultaneously for stablecoin-funded card programs. Businesses can issue spending cards on both networks through a single API, cutting time-to-market from months to days. The platform manages cross-border settlement and network compliance in a single layer, a significant infrastructure step toward mainstream stablecoin card issuance.

Source: Blockhead

LAUNCH

X (Twitter) Testing Visa Debit Card With 6% Yield on Balances

X is developing a payments product integrating peer-to-peer payments, wallet services, and a Visa debit card tied to user accounts. Currently in limited external testing, the product offers annualized yields of up to 6% on cash balances. If launched at scale, it could bring crypto-adjacent card features to X’s 500M+ user base, a major potential disruption to the crypto card market.

Source: FameEX

Quick Hits

  1. StraitsX to launch XSGD and XUSD stablecoins on Solana, first time both Singapore dollar and US dollar stablecoins live natively on a high-speed blockchain. Enables micropayments via x402 standard. source RedotPay →
  2. Kraken Financial becomes first digital asset bank in US history to receive a Federal Reserve master account via the Kansas City Fed, gaining direct Fedwire access. source Krak Card →
  3. BitPay card program remains paused, still transitioning to a new banking partner after Metropolitan Commercial Bank exit. Waitlist open, no timeline for relaunch. source
  4. OCC proposes comprehensive stablecoin supervisory framework under the GENIUS Act, includes federal licensing requirements, reserve standards, and redemption obligations for payment stablecoin issuers. source

Market Context

Stablecoin card spending crossing the $18B annualized mark is a milestone. Cards remain the primary way to spend stablecoins because they run on existing Visa and Mastercard rails and require zero new merchant integrations. The ‘invisible stablecoin’ thesis, where users don’t even know they’re using crypto, is playing out fastest in Southeast Asia, where StraitsX’s Thai QR-code payments and Solana expansion are paving the way.

Database Updates

Cards updated this week: RedotPay →

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