Your customer pays with a stablecoin-backed card. Does your business actually receive crypto? Usually, no. Stablecoin-backed cards can let customers spend from stablecoin balances while merchants continue accepting payments through existing card networks. Depending on the card program and acquiring arrangements, merchants typically receive fiat settlement rather than stablecoins directly. In this Short, we explain: How stablecoins can fund card payments What happens behind the scenes Why merchants usually don’t need a crypto wallet How card payments differ from direct stablecoin payments Visa and StraitsX recently announced plans to expand stablecoin-backed card-issuing infrastructure to more than 100 markets, subject to applicable requirements. Source: Visa Singapore, October 26, 20
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