StraitsX, a Singapore-based stablecoin provider, has secured $10 million for expanding its infrastructure across Asia, with significant backing from UQPAY and NTT DOCOMO.
This expansion is poised to enhance cross-border stablecoin payments, improving liquidity and connectivity, supported by increased institutional confidence in regulated digital payment networks in the region.
$10M Investment Targets Asian Stablecoin Networks
StraitsX secured a strategic $10 million funding to enhance its Asian stablecoin networks. The company is focused on expanding cross-border payments and infrastructure enhancements for stablecoins.
Led by Tianwei Liu, StraitsX is bolstered by partners like UQPAY. They are investing in broadening their reach to deepen connectivity and solidify infrastructure growth across Asia. Liu noted, "This marks the start of a new growth chapter for StraitsX...we’re expanding that foundation across Asia to deepen cross-border connectivity, enhance on- and off-ramps between stablecoins and fiat, and enable enterprises to move value seamlessly in a trusted and compliant way."
Asian Markets Prepare for Enhanced Digital Payment Access
Immediate effects are expected within Asian financial markets and digital payment circles. Partners anticipate this will facilitate greater seamless transactions and enhance digital financial accessibility.
The funding aligns with growing institutional interest in digital assets. It emphasizes regulatory-compliant expansion and cross-border payment accuracy within Asia’s burgeoning fintech landscape.
StraitsX Aims for Increased Stablecoin Adoption
StraitsX's previous ventures into stablecoins, such as XSGD, laid the groundwork for current funding purposes. These efforts have augmented regional growth and established pan-Asian financial connections.
Potential outcomes include increased stablecoin liquidity and broader digital asset adoption in both DeFi protocols and cross-border activities, reflecting trends from prior fiscal enhancements.