Cashi has launched the public beta of its stablecoin spending app, allowing users to deposit USDT or USDC and spend their balances through a virtual Visa card. Initially available in Hong Kong, the service supports Google Pay and offers cashback on selected purchases. Cashi plans to introduce Apple Pay, physical cards and expand into Mexico as stablecoins increasingly move from cryptocurrency trading into everyday payments.
Key Overview
Cashi’s public beta combines stablecoin storage and card-based spending within a single platform. Users can fund their accounts with USDT or USDC and receive a virtual Visa card for purchases. More than 1,100 people joined the waitlist before launch. The company is targeting freelancers, travellers and globally mobile users who want stable digital money without actively trading cryptocurrency.
Cashi Brings Stablecoins Into Everyday Spending
Cashi has launched the public beta of its stablecoin spending app and Visa card as it seeks to make digital dollars easier to use for everyday purchases.
The product allows users to deposit two of the world’s largest stablecoins, Tether’s USDT and Circle’s USDC, and receive a virtual Visa card linked to their balance.
Rather than requiring customers to manually sell their stablecoins, withdraw money to a bank account and then spend the resulting fiat currency, Cashi aims to streamline the process.
Funds remain in stablecoins until a payment takes place, creating a bridge between blockchain-based balances and conventional card payment infrastructure.
Cashi founder and CEO Esther Wong said the company designed the service around users who want stable and spendable money rather than a platform for speculative cryptocurrency trading.
The approach places Cashi within a growing segment of fintech companies attempting to turn stablecoins from primarily settlement and trading instruments into consumer payment products.
Virtual Visa Card Supports Google Pay
Beta users receive a virtual Visa card that can currently be added to Google Pay for purchases at physical merchants.
Apple Pay integration and physical cards are planned for the full product launch.
This structure potentially addresses one of the biggest obstacles facing stablecoin payments: merchant acceptance.
Retailers do not necessarily need to accept USDT, USDC or other digital assets directly. Instead, the card infrastructure facilitates spending through established payment networks.
For consumers, this could make a stablecoin balance behave more like money held in a conventional digital wallet.
Cashi reported that more than 1,100 people joined its waiting list before the public beta became available, providing an early indication of interest in the product.
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Cashi Targets Globally Mobile Consumers
Cashi is positioning the service particularly toward freelancers, families and travellers whose financial lives regularly cross borders.
This target market is significant because people earning income in one currency while spending in another can face conversion charges, transfer delays and exposure to exchange-rate movements.
Dollar-linked stablecoins potentially provide an alternative by allowing users to hold digital assets designed to maintain a stable value against the U.S. dollar.
However, stablecoins are not identical to bank deposits. Their stability ultimately depends on their structure, reserves, issuer and ability to maintain their intended peg.
Cashi’s proposition therefore relies on combining the portability of digital assets with the convenience of conventional card payments.
Cashback Added to Cashi Visa Card
Cashi has also introduced cashback rewards to encourage everyday card usage.
Users can receive 3% cashback on selected subscriptions, including Amazon Prime and Uber One, while online shopping qualifies for 2%. Flights and hotels provide 1% cashback.
Instead of conventional loyalty points, rewards are provided as dollar-denominated spending credit and do not expire, according to the company.
The rewards structure indicates that Cashi wants its crypto card to compete not only with cryptocurrency payment products but also with conventional credit, debit and fintech cards.
The long-term economics of these incentives will nevertheless depend on transaction volumes, customer retention and the costs associated with maintaining the rewards programme.
Stablecoin Payments Move Beyond Crypto Trading
The launch comes as the role of stablecoins continues to broaden.
Cashi said more than 300 million people worldwide now hold stablecoins and that stablecoin payments exceeded $33 trillion last year.
While headline transaction figures demonstrate the enormous scale of blockchain activity, transaction volume should not automatically be interpreted as equivalent to consumer retail spending. Stablecoin activity also includes cryptocurrency trading, institutional transfers, settlement and other blockchain transactions.
That distinction matters when assessing the addressable market for consumer-facing blockchain payments.
Still, stablecoins have characteristics that make them attractive for payments, including continuous availability, relatively rapid settlement and the ability to transfer dollar-denominated value across blockchain networks.
The challenge has been making those balances easily spendable within the traditional economy.
Products such as Cashi are attempting to solve that final-mile problem.
Hong Kong Launch Comes Before Mexico Expansion
The stablecoin spending app is initially available in Hong Kong, with Cashi planning to expand into Mexico later in 2026.
The two markets provide interesting environments for a product focused on cross-border and dollar-linked payments, although expansion will depend heavily on regulatory requirements, card infrastructure and consumer adoption.
Cashi will also face competition from established cryptocurrency exchanges, fintech companies and payment providers developing their own stablecoin-linked services.
Its public beta therefore represents an early test of whether consumers want stablecoins primarily as investment and transfer instruments or increasingly as balances they can use directly for everyday purchases.
If adoption develops as Cashi expects, the distinction between a crypto wallet and a conventional digital payments account could continue to narrow.
FAQs
What is the Cashi stablecoin spending app?
Cashi is a digital payments app that allows users to deposit stablecoins such as USDT and USDC and spend the balance using a virtual Visa card. It is designed to simplify spending stablecoins without requiring users to manually convert them before making purchases.
Which stablecoins does Cashi support?
Cashi currently supports USDT and USDC. Both stablecoins are designed to track the value of the U.S. dollar, allowing users to maintain dollar-linked digital balances that can then be used through Cashi’s payment infrastructure.
Can the Cashi Visa card be used with Google Pay and Apple Pay?
During the public beta, Cashi’s virtual Visa card can be added to Google Pay for in-store payments. The company says Apple Pay support is planned for the full launch, alongside the introduction of physical cards.
Where is Cashi available?
Cashi’s public beta is currently live in Hong Kong. The company plans to expand into Mexico later in 2026 as it develops its international crypto-to-fiat payments and stablecoin spending infrastructure.
Sources: Yahoo Finance, Electronic Payments International, Finextra, CFO Tech, Crypto News
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