Are cross-border stablecoin cards compliant? WasabiCard launches local issuing solution

The payments infrastructure provider says its single-API service connects businesses to local and regional issuing arrangements across more than 100 markets.

Quick Take

• WasabiCard has launched a local issuing solution that it says helps businesses build branded card programs across more than 100 markets through a single API.
• CEO Ray Yang argues that stablecoin-funded cards must address the issuing and regulatory requirements of the markets where their users live.

WasabiCard connects stablecoin funding with local card issuing.

A card that lets users spend stablecoins around the world can still face limits on who is eligible to hold it. Global merchant acceptance and permission to issue cards across borders are different questions.

WasabiCard is putting that distinction at the center of its Local Issuing Solution, a new service the company says will help businesses build card programs across more than 100 markets through local and regional issuing arrangements.

The platform connects businesses with banks, financial institutions and bank identification number, or BIN, sponsors through a single API. According to the company, it uses cardholders’ know-your-customer information to select an appropriate issuing program for eligible users in the markets it supports.

The approach reflects an argument from co-founder and CEO Ray Yang: using stablecoins to fund or settle a card program does not remove the need to address the requirements of the markets where its customers live.

“Global expansion has often meant issuing cards in one market and hoping the same model works everywhere else. That can create friction around compliance, card acceptance, and costs,” Yang said in the company’s launch statement.

“Our Local Issuing Solution gives businesses the flexibility to issue natively in regional markets, settle in stablecoins, and deliver familiar branded experiences to end-users.”

Where cross-border issuing rules draw the line

The distinction has practical implications for wallets, fintech companies and platforms distributing funds to users overseas. A card’s ability to work at a foreign merchant does not, on its own, establish that the issuer can market and provide that card to residents of the merchant’s country. The issuing entity, eligible customer base and permitted activities all matter.

Visa’s public rules illustrate that boundary. Its October 2026 rulebook generally limits BIN use to licensed countries and approved programs. It also explicitly recognizes exceptions, including the Visa Cross-Border Issuing Program, multinational programs and qualifying European passporting arrangements. Cross-border issuance therefore has recognized pathways; it is not automatically prohibited.[1]

Mastercard likewise restricts issuing activity to an authorized area of use while providing extensions for specified arrangements, including qualifying multinational corporate card programs. Those arrangements remain subject to applicable laws and network conditions.[2]

The question is consequently whether a particular program has the permissions and controls required for its users and markets. Neither stablecoin funding nor a local BIN alone establishes compliance with every obligation.

One API for local card programs

For WasabiCard, the commercial proposition is to bring those market-specific issuing relationships into one integration. A business serving customers across several countries can face different onboarding requirements, issuing partners and technical interfaces. The company says its platform is designed to manage that complexity behind a common API, allowing clients to build branded card experiences without separately integrating each issuing provider.

The solution supports commercial and consumer card programs, virtual and physical cards, and Apple Pay and Google Pay integration, according to the company. It also supports program-level settlement in USDT, USDC and Open USD. Businesses fund programs from stablecoin balances while cardholders use cards for everyday purchases.

WasabiCard identifies creator payouts, contractor payments, advertising spending and employee expenses among its intended uses. For a platform paying users in multiple markets, the intended benefit is a consistent way to administer card access and spending controls while accommodating differences in the underlying issuing arrangements.

Costs and compliance controls

The company also presents local issuing as a way to improve program economics. Any reduction in cross-border or foreign-exchange charges, however, depends on the specific transaction, currencies and fee schedule. A locally issued card can still incur conversion costs when the purchase currency differs from its billing currency.

Alongside the issuing model, WasabiCard says it screens stablecoin deposits before funds become spendable. Deposits with direct exposure to high-risk sources are declined, while indirect links requiring further investigation are held for compliance review. Decisions are recorded to provide issuing partners with an auditable trail, the company says.

Stablecoin payments gain ground in business use

Stablecoin payment activity reached an estimated $482 billion in the first nine months of 2026, up 45% from the same period a year earlier, according to blockchain analytics firm Allium. The number of payments rose 71% over the period, while total stablecoin supply grew just 0.4% from the beginning of the year. Allium

Card network data also points to business use. In its fiscal 2026 year-to-date figures, Visa said approximately 17% of stablecoin-linked card volume on its network came from business and commercial card programs.

Against that backdrop, WasabiCard is positioning its Local Issuing Solution as a way for businesses to connect stablecoin funding with branded card programs across multiple markets, while using local and regional issuing arrangements suited to eligible users.

About WasabiCard

WasabiCard is a global payment infrastructure platform enabling enterprises, fintechs, and internet-native businesses to issue cards, distribute payouts, and manage cross-border payments through stablecoin-powered financial infrastructure. Its platform supports global card issuing, multi-currency settlement, stablecoin funding, and embedded payment capabilities designed for modern global commerce. WasabiCard powers payment use cases across media buying, SaaS subscriptions, global payroll, treasury management, and digital financial applications.

Follow WasabiCard on X and LinkedIn for the latest updates on product developments, partnerships, and insights into the future of stablecoin-powered payments.

Business Contact

Fire, co-founder of WasabiCard

Email: [email protected]

WhatsApp: +852 6242 6393

Disclaimer

This publication is for informational purposes only and does not constitute legal, tax, or professional advice from WasabiCard, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]].