Stablecoin Cards Turn Crypto’s Last Mile Into a Payments Infrastructure Business
What's happening
Thredd, an AI-first issuer processing platform, has been chosen by Cashi to power a new stablecoin spending and cashback card programme that is now live in Hong Kong and planned to expand into Mexico in late 2026 (reports note expansion timing as 'before the end of 2026' or 'latter part of this year'). Cashi's app lets users hold and send digital assets and the card enables everyday purchases using stablecoins. Commentaries frame the move as part of a broader shift where stablecoin cards are addressing interoperability and standardization, turning crypto's 'last mile' into payments infrastructure rather than another niche crypto product. Separately, Thredd is also expanding issuer processing work with other clients, such as powering Pliant's US Visa card launch, underscoring its broader payments infrastructure push.
Why it's trending
Multiple launches and partnerships (Cashi in Hong Kong, planned Mexico rollout, and Thredd's work with Pliant) signal a moment where stablecoin spending is moving from experiment to mainstream payments plumbing.
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Everyone calls crypto cards gimmicks, Cashi and Thredd just proved they can be basic payments infrastructure, not a novelty for traders.
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Original sources7
- Cashi launches stablecoin app
Cashi today launched its app and card in public beta, giving people a simple way to hold stablecoins and spend them like cash.
FinextraAug 12 - Thredd Powers Cashi Stablecoin Card Launch in Hong Kong
Thredd is supporting Cashi’s stablecoin spending card rollout in Hong Kong with Mexico next on its expansion plans. Thredd will provide the issuer processing infrastructure for the programme. The Cashi app lets users hold and send digital assets, while its card can be used for everyday purchases. The Hong Kong programme is now live with [...] The post Thredd Powers Cashi Stablecoin Card Launch in
Fintech News SingaporeAug 12 - Stablecoin Cards Turn Crypto’s Last Mile Into a Payments Infrastructure Business
Stablecoins do not have an acceptance problem in the conventional sense. They have an interoperability problem. Thredd’s new partnership with stablecoin platform Cashi, announced Tuesday (Aug. 11), is important not because another cryptocurrency card is entering the market. It is important because the stablecoin economy is beginning to standardize around an increasingly clear commercial architectu
PYMNTSAug 11
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