StraitsX CEO says stablecoin cards are now buying groceries, not lambos

At Money20/20 USA, Tianwei Liu said StraitsX processes over $500 million a month in card payments, mostly small everyday purchases Stablecoins spent years as the parking lot of crypto trading. According to StraitsX CEO Tianwei Liu, they are now paying for diapers. Speaking at Money20/20 USA in Las Vegas, Liu said stablecoin-backed cards are pulling digital dollars into ordinary, daily spending. Liu, who co-founded StraitsX, said the company now processes over $500 million in monthly transactions through its stablecoin-backed Visa debit cards. The more interesting figure is what those transactions look like. Roughly 85% of them come in under $50.

Source: Crypto Briefing