Thredd, Cashi Launch Stablecoin Visa Card in Hong Kong

Stablecoin-linked cards connect digital-asset balances with established payment networks, allowing consumers to spend crypto-derived value while merchants receive payments through conventional card rails. Hong Kong-incorporated Cashi provides the customer-facing wallet and spending service, while issuer-processing platform Thredd supplies card and transaction infrastructure. Their partnership is significant because it extends stablecoins beyond holding and transfers into routine retail purchases without requiring merchants to accept digital assets directly.

Cashi’s terms took effect on June 4, 2026, and the program is now live in Hong Kong with a virtual Visa card that can be added to Google Pay. Card transactions deduct supported digital assets from a user’s custodial wallet and route settlement through Cashi’s issuing and processing partners. The companies disclosed no investment or transaction value. Cashi plans to expand the program to Mexico and add physical cards and Apple Pay, though it has not provided firm launch dates for those features.