Reap has launched a Virtual Asset Ledger that allows clients of its card issuing platform to fund card spending directly from existing bitcoin and other virtual asset balances.
The product enables users to spend digital assets at the point of sale, with conversion taking place at the platform’s live rate. Users do not need to convert their holdings to stablecoins or fiat beforehand.
Historically, platforms enabling card spending from digital assets have either required users to convert their holdings into stablecoins or built bespoke treasury flows. Reap’s ledger handles conversion when a transaction occurs.
The platform allows consumer fintechs and neobanks to mirror users’ virtual asset balances to Reap and price them using their own feeds.
Cash and digital assets can contribute to a single spending limit, while the issuing platform controls which balance funds each transaction.
Clients can also make fixed-rate units such as cashback, loyalty points and monthly salary allowances spendable through the same card, without separate redemption flows.
“Neither is a payment solution, they’re workarounds for infrastructure that only ever understood one kind of balance. What we’ve built lets a platform settle that spend against the virtual assets users already hold, at the platform’s own rate, at the till.”
said Harris Leow, Head of Product, Reap.
Clients retain custody of user funds, while Reap holds a master collateral account in USDC or USDT to back outstanding card spending. Reap does not custody the underlying assets or operate as an exchange.
The launch comes as crypto card spending continues to grow. Spending reached US$1.04 billion in July 2026, more than tripling from a year earlier, with dollar-backed stablecoins funding 70% of transactions.
Asia Pacific accounted for the largest regional share of crypto card payment volume on the Visa network, which reported more than 160 stablecoin-linked card programmes live or in development globally as of June 2026.
Bitcoin support is available to Reap’s card issuing clients through its existing API. Cards issued through the platform originate from Hong Kong and Mexico and can be used wherever Visa is accepted.
The launch follows Reap’s expansion in Hong Kong, where it opened a new global headquarters in late 2025.
Featured image credit: Edited by Fintech News Hong Kong, based on image by 2024 via Magnific