Visa and Hong Kong-based fintech Reap are expanding their partnership: Visa credit cards backed by stablecoins will now be available in more than 100 countries.
⏺ How it works: stablecoins are used as collateral, while the card balance is also repaid in stablecoins. For merchants, it works just like a regular Visa card usable at more than 175 million locations worldwide.
⏺ The sector is growing fast: stablecoin-based card programs are increasing by 106% year over year, according to Artemis Research.
⏺ The next step is stablecoins tied to local currencies, including the peso, Hong Kong dollar, euro, won and yen.
⏺ Reap also recently acquired Payward, the parent company of Kraken. Its plans include tokenized stocks and AI-agent payments.
Bottom line:
Stablecoins are gradually moving beyond crypto exchanges and into everyday payment infrastructure. Local-currency stablecoins could also make international transfers cheaper and easier.
💳 Stablecoins can already be used for payments around the world. Would you be ready to spend crypto with a card?
👍 - Already doing it
❤️ - Yes, but still looking for the right card
🔥 - I prefer traditional cards
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