The initiative allows users to make purchases using digital assets at merchants worldwide that accept Visa, with transactions processed through real-time cryptocurrency-to-fiat conversion technology.
The partnership brings together Visa’s global payment infrastructure, StraitsX’s role as a BIN sponsor, and RedotPay’s proprietary technology designed to facilitate the seamless use of cryptocurrencies in everyday transactions.
The new card operates by converting cryptocurrency into fiat currency at the point of sale, enabling wider adoption of digital assets in conventional retail settings. RedotPay states that the system complies with financial regulations and incorporates security measures to protect users.
According to RedotPay officials, the collaboration is intended to improve accessibility and ease of use for crypto payments, positioning them as a viable option in mainstream commerce. In turn, representatives from StraitsX noted that the initiative expands the practical applications of digital assets by allowing them to be used for routine purchases.
The programme is primarily aimed at crypto users and unbanked populations in Singapore, as well as in emerging markets across Southeast Asia, the Middle East, North Africa, Latin America, and South Asia. The card, which soft-launched in late 2024, offers features such as real-time crypto-to-fiat conversion, global acceptance through Visa, and self-custody of crypto assets, aligning with RedotPay’s goal of expanding cryptocurrency’s use in everyday commerce.
RedotPay focuses on integrating digital assets with traditional finance through payment solutions. The company is based in Hong Kong, and it operates across both Asia and Europe. StraitsX, a regulated payments institution, facilitates digital asset transactions as a BIN sponsor, while Visa’s network supports transactions in more than 200 countries.
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