From Southeast Asia to South America, how can stablecoin QR code scanning bridge the "last mile" between encryption and reality?

Stablecoin QR code payment systems are expanding globally, integrating cryptocurrency into everyday transactions by scanning standard merchant codes. Here’s how different regions are adopting this technology:

Vietnam & Philippines: Focused on financial inclusion, stablecoins like USDT/USDC work through national QR systems (VietQR, QR PH). Users pay with crypto, while merchants receive local currency, bridging unbanked populations without direct crypto exposure.
Brazil: Leverages the PIX instant payment network to combat inflation and attract international capital. Stablecoin payments via QR codes are converted to Brazilian reals in real time, under central bank supervision for compliance.
Thailand: Implements Tourist DigiPay, allowing travelers to convert stablecoins to Thai baht at merchants. This reduces forex friction and fees in the tourism sector, using certified wallets for regulatory compliance.
Singapore: OKX Pay and StraitsX enable USDC/USDT payments via the national SGQR at GrabPay merchants. Conversions happen to a Singapore dollar-pegged stablecoin (XSGD), aligning with MAS’s strict stablecoin framework.

This model uses unified QR codes as the interface, stablecoins for funding, and a clearing layer for crypto-to-fiat conversion. It offers users a familiar payment experience while allowing regulators to monitor flows and integrate crypto liquidity into real-world economies.

The integration of stablecoin payments and QR code systems is quietly changing the underlying logic of the payment system. A few years ago, people were still debating whether digital currencies could become part of everyday life. Now, in some countries, scanning a standard merchant QR code might actually result in a payment settled in a crypto-stablecoin. From Southeast Asia to South America, the stablecoin QR code payment system is gradually taking shape.

Vietnam and the Philippines: Financial Inclusion

In Vietnam and the Philippines, the promotion of stablecoin QR code payments is closely tied to the goal of financial inclusion. Banking coverage in both countries is limited, and a large number of low- and middle-income individuals rely on e-wallets for daily payments. According to World Bank data, in 2023, over 30% of adults in Vietnam will still be unbanked, while in the Philippines, the figure is close to 44%.

In June 2025, Bitget Wallet announced that it would integrate its crypto payment function with the "national unified QR code system". By supporting VietQR and QR PH in Vietnam and the Philippines, users can directly scan the code to pay with stablecoins such as USDT or USDC.

This move isn't just a symbolic "crypto payment concept," but rather a genuine integration into the local payment network. Consumers scan a QR code to complete their payment, and the system automatically converts the stablecoin into local fiat currency. Merchants don't need to touch crypto assets or bear exchange rate risk. Bitget stated in its official blog that the goal of this design is to "make the crypto payment experience indistinguishable from that of a regular e-wallet."

Vietnam's payment environment provides a natural environment for this type of experiment. VietQR, a standardized QR code system led by the country's Interbank Payment Association, covers major banks and wallet services nationwide. When stablecoins like USDT enter the VietQR payment system, it essentially integrates blockchain liquidity onto the national financial network. After users scan the code, transactions are initiated through crypto wallets and settled using stablecoins, while merchants still receive payment in Vietnamese dong. For regulators, this allows them to maintain control over local currency clearing while allowing international capital flows to more efficiently penetrate the retail market.

Brazil: Anti-inflation and system integration

Brazil's core motivations are to combat inflation and attract international crypto capital. Since 2024, Brazil's inflation has consistently exceeded its target range, and the local currency, the real, has been frequently replaced in digital asset transactions. By allowing users to pay directly with stablecoins (such as USDT and USDC) via QR code, the government has, to a certain extent, incorporated the naturally occurring crypto assets into its regulatory framework, making them a controlled means of payment.

Brazil's PIX system, originally known for its instant transfers, has, to some extent, replaced cash transactions in the country. In September 2025, Aeon Pay announced that its "Crypto Scan-to-Pay" service officially supports stablecoin payments via PIX QR codes. Users can scan and pay directly with USDT or USDC, which is then converted to Brazilian reals in real time.

Because PIX covers virtually all bank and merchant terminals, stablecoins can achieve "scannable, settleable" functionality across the broadest economic landscape. Aeon Pay emphasizes that its design adheres to central bank anti-money laundering and fund monitoring requirements, ensuring that all exchange and clearing steps in the stablecoin payment path are auditable.

Thailand: Tourism Economy and Foreign Exchange Optimization

Meanwhile, Thailand, with its thriving tourism economy, has also begun exploring similar mechanisms. According to a policy analysis published by Silk Legal, Thailand is implementing the Tourist DigiPay program, which allows tourists to convert cryptocurrency into Thai baht and complete payments at merchants by scanning a QR code.

The logic behind this is clear: Thailand's foreign exchange settlement system still has friction for small transactions, and tourists face high fees and opaque exchange rates when exchanging currency and using bank cards. Stablecoin QR code payments, however, bypass the traditional exchange chain, completing instant conversions through smart contracts and directly injecting funds into local merchant accounts.

The key to this solution isn't opening up crypto trading, but rather integrating stablecoins with the country's unified QR code system. Upon arrival in Thailand, tourists can deposit stablecoins like USDT into a certified wallet, where the system automatically converts the equivalent amount into Thai baht, which is then cleared through local banks and payment gateways. This mechanism ensures regulatory compliance while reducing the need for foreign currency exchange, allowing crypto assets to gain real-world applications in tourism.

Singapore: Symbiosis of Institutional Compliance and Innovation

While innovation in these countries is primarily occurring in emerging markets, Singapore, in September 2025, brought stablecoin QR code payments into a highly mature financial system. According to reports from Finextra and Channel News Asia, OKX Pay partnered with StraitsX to launch a QR code payment feature supporting USDC and USDT. Users can scan the national unified QR code (SGQR) at GrabPay merchant networks to use stablecoins for purchases.

The system converts USDC or USDT into XSGD stablecoin pegged to the Singapore dollar in the background, and the merchant ultimately receives the Singapore dollar.

The significance of this model lies in its first implementation of stablecoins for everyday payments in a strictly regulated market. As early as 2023, the Monetary Authority of Singapore (MAS) issued a "Stablecoin Regulatory Framework," requiring issuers to ensure the security of their reserve assets, sufficient liquidity, and independent audits. This ensures that the practice of stablecoin QR code payment has both legal and technical stability.

While different countries have adopted different approaches, the underlying logic is remarkably similar: a unified QR code system provides the "entry," stablecoins provide the "funding source," and the intermediate clearing layer is responsible for converting cryptocurrencies into fiat currency and distributing it to merchants. Users simply scan the code to pay, with an experience similar to Alipay or PayNow. This allows regulators to maintain monitoring channels while also absorbing capital flows and payment innovations from the crypto market.

Behind this trend lies an institutional shift in the global stablecoin ecosystem. Regulators around the world are no longer simply avoiding it, but are instead seeking solutions for "stable access." Judging by current developments, stablecoin QR code payments are gradually becoming the intersection of crypto assets and the real economy. They maintain the convenience of QR code payments while also allowing stablecoin liquidity to move from the virtual market to everyday consumption.