UQPAY Launches Fiat-Stablecoin Payment Bridge
Singapore-based fintech UQPAY has launched a full-stack payment infrastructure designed to bridge traditional fiat and stablecoins. The platform unifies global acquiring, card issuing, and stablecoin accounts into a single system for global commerce.
UQPAY, founded in 2016 by CEO Li Wangjian, has a history of focusing on API-linked payment gateways and cross-border B2B payments. The company has positioned itself as a key player in the Asian fintech scene, recently obtaining a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) and planning to launch a private equity fund to invest in the fintech sector. This move signals an ambition to build a broader fintech ecosystem beyond its core payment services. The company's new platform is a "dual-rail" system, meaning it integrates traditional payment networks like SWIFT with blockchain-based infrastructure for stablecoin transactions. For developers, UQPAY provides a single API to manage a comprehensive set of services including global acquiring, multi-currency virtual accounts, card issuing, and stablecoin payments. The technical integration is built to be robust, utilizing EMV international encryption standards and Visa's tokenization framework for its corporate card integration with Google Pay. While some sources describe UQPAY as "unfunded" in the traditional VC sense, the company is actively deploying capital. In a significant strategic move in October 2025, UQPAY made a $10 million investment in StraitsX, a Singapore-based stablecoin settlement firm. This investment aims to deepen cross-border connectivity and enhance the on- and off-ramps between fiat and stablecoins throughout Asia. UQPAY's target clientele for this new infrastructure includes high-growth, cross-border businesses such as e-commerce platforms, SaaS companies, and Web3-native companies. The company reports a peak daily transaction volume of over US$100 million and a significant increase in net sales revenue in 2024. It faces competition from established payment giants like Stripe and regional players such as Razorpay and PayU.
