Thredd, the AI-first issuer processing platform, has been selected by Cashi to power its new stablecoin card programme, which has launched in Hong Kong ahead of a planned expansion into Mexico before the end of 2026.
The partnership will see Cashi use Thredd’s issuer processing capabilities to support its stablecoin spending proposition as it expands across markets. The Hong Kong launch currently offers users virtual Visa cards and Google Pay, while the planned Mexico rollout will add physical cards and Apple Pay support.
Cashi said the market-by-market approach is intended to create a repeatable model for expanding its stablecoin card proposition into additional countries.
The Cashi app allows users to hold and send digital assets and spend directly from their Cashi card on everyday purchases, including groceries, subscriptions, online shopping and travel. The company is positioning the offering as a way to make stablecoins more practical for everyday spending rather than limiting their use to investment and trading.
Purchases can be made anywhere Visa is supported, bringing stablecoin balances into existing payment environments.
Thredd provides issuer processing capabilities across debit, credit, digital wallet and ledger services. Its platform supports more than 100 FinTechs, digital banks and embedded finance providers across more than 50 countries, with billions of transactions processed each year.
Cashi selected Thredd based in part on the processor’s experience supporting digital asset card programmes and its ability to support launches across multiple markets.
Thredd head of APAC Damien Gough said, “Cashi is helping turn stable digital assets into something consumers can use naturally in their everyday lives. Launching a programme across markets as distinct as Hong Kong and Mexico requires technology that can support local payment requirements without compromising the consistency of the customer experience. Thredd’s platform gives Cashi a strong foundation to launch, expand and bring its vision for borderless spending to more consumers.”
Cashi CEO Esther Wong added, “Cashi was built for people who need money that moves globally and holds its value while it waits. Our goal is to make digital dollars feel as useful and intuitive as the money people already use every day. Thredd’s experience supporting crypto card programmes, and its ability to support expansion across multiple markets made it the right issuer processing partner for Cashi.”
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