Consumers in select overseas markets will soon be able to spend stablecoins through a Pine Labs prepaid card, with launches scheduled by the end of April.

The company’s CEO Amrish Rau shared the plans with Reuters.

The Temasek and Peak XV-backed fintech is preparing the rollout in nine countries across the Middle East, Africa and Southeast Asia.

Pine Labs will not introduce the product in India or China, where digital asset regulation remains restrictive.

China has tightened oversight of virtual currencies and moved against unauthorised offshore issuance of yuan-linked stablecoins.

India does not prohibit stablecoins, but the Reserve Bank of India has warned that privately issued tokens could pose risks to monetary stability.

Domestic payment platforms such as PhonePe and Paytm do not currently provide stablecoin-backed payment options.

The prepaid card will be funded using stablecoins held in customers’ digital wallets.

At the point of sale, balances will be converted into local currency, allowing merchants to receive fiat while customers transact using digital tokens.

The initiative places Pine Labs among global payment firms exploring stablecoin-enabled infrastructure for cross-border transfers.

Companies such as Stripe and PayPal have been integrating stablecoins into payment flows as adoption increases.

The stablecoin market is valued at more than US$310 billion, led largely by U.S. dollar-pegged tokens including Tether and USDC.

Rau said the company views stablecoin rails as part of a broader technology-led expansion.

The move follows Pine Labs’ recent collaboration with OpenAI to develop agentic commerce capabilities, highlighting its focus on AI-driven payment solutions.

Headquartered in India’s National Capital Region, Pine Labs provides merchant payment technology including point-of-sale systems.

It operates in about 20 countries, with overseas markets contributing roughly 17 percent of revenue.

The company said it will continue prioritising AI applications, cross-border growth and digital asset initiatives as part of its next phase of expansion.

Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik