Why Asia Is Ahead on Stablecoins, According to Reap's Daren Guo

Reap co-founder Daren Guo attributes Asia’s lead in stablecoins to infrastructure designed for cross-border money movement, citing the region’s ability to handle over fourteen currencies compared to the US focus on dollars, pounds, and euros. He highlights Hong Kong’s Stablecoins Ordinance, effective August 2025, and Singapore’s 2023 stablecoin framework as key regulatory developments shaping adoption.

Guo notes Reap transitioned from a Hong Kong corporate card and expense company to a stablecoin card issuer moving roughly $6 billion annually, with stablecoin treasury management primarily on Solana since 2025. He emphasizes Asia’s central role in global trade flows and supplier payments, particularly for emerging markets in Africa and Latin America where financial access is limited.

Reap’s B2B Stablecoin Payment report shows business-to-business stablecoin flows surged from under $100 million monthly in early 2023 to over $3 billion by 2025, with Asia accounting for $12.5 trillion in 2025 flows. The Singapore-to-China corridor is identified as the busiest route, reflecting the region’s infrastructure maturity.

Guo, an early Stripe employee, explains that stablecoins only gained mainstream traction in the last 12–18 months, initially driven by global enterprises managing treasury across borders and neobanks issuing cards where demand is highest. Reap’s model uses stablecoins as collateral for postpaid cards, integrating with Visa and Mastercard networks to provide a familiar user experience with programmable settlement beneath.