Fintech UQPAY Bridges Fiat & Stablecoins
Singapore-based fintech UQPAY has launched a new full-stack payment infrastructure designed to bridge traditional fiat currencies and stablecoins. The platform unifies global acquiring, card issuing, and stablecoin accounts into a single system for global commerce.
The "dual-rail" architecture of UQPAY's platform is designed to process transactions through a single API, managing both traditional payment systems and blockchain-based stablecoin networks. This integrated system is aimed at businesses in high-growth sectors such as e-commerce, SaaS, gaming, and online education, operating across more than 200 markets and 140 currencies. Underpinning its stablecoin services is the x402 Hosted Compliance Stablecoin Acquiring Platform, which supports major stablecoins like USDC, USDT, and XUSD. This platform is built to be compatible with the Universal Commerce Protocol (UCP), an open standard for AI-driven commerce. The x402 protocol itself is an open standard, built on HTTP, designed to facilitate internet-native payments across both crypto and fiat networks. The platform's capabilities are accessible to developers through a comprehensive suite of APIs for acquiring, banking, and card issuance. This allows for customized integrations and the creation of tailored financial solutions. For instance, UQPAY offers customized fraud detection logic to meet specific business needs. UQPAY's CEO and founder, Jack Li, has a background in financial services and has been a vocal observer of the cross-border payment market. The company, founded in 2016, has established itself as a principal member of Visa, Mastercard, and UnionPay International. The company has been actively expanding its ecosystem through strategic partnerships and investments. It has a technology partnership with Google Pay and has integrated with Visa's tokenization framework to enhance security. Additionally, UQPAY has invested $10 million in StraitsX, a Singapore-based stablecoin settlement firm, to accelerate its expansion in Asia and enhance its stablecoin-to-fiat capabilities. Looking ahead, UQPAY is positioning itself for further growth in the digital economy. The company has secured a Capital Markets Services (CMS) License from the Monetary Authority of Singapore. This license will allow UQPAY to launch a private equity fund in the first quarter of the coming year, with the goal of investing in the broader fintech industry. The move into stablecoin-based B2B payments aligns with significant market growth. In 2025, stablecoin transaction volume reached $33 trillion, with B2B stablecoin payments seeing a substantial increase. This growth is driven by the potential for faster, more efficient cross-border transactions compared to traditional payment rails. Competitors in the stablecoin payment space include established players like Stripe and Circle. Stripe has integrated USDC payments, allowing for automatic conversion to fiat currencies. Circle, on the other hand, offers the Circle Payments Network (CPN), a B2B payments framework for transactions using regulated stablecoins like USDC and EURC.
