RedotPay taps Nium to turn stablecoins into local cash in more countries: the off-ramp race heats up after TOKEN2049

The hardest part of using stablecoins has never been sending them. It has been turning them into money a landlord, a supplier or a family member can actually use. At TOKEN2049 in Singapore, Hong Kong-based stablecoin payment platform RedotPay announced a partnership with Nium aimed at exactly that problem. RedotPay, which has more than nine million users globally, will use Nium's network to expand its stablecoin off-ramp coverage into new markets, converting stablecoins into traditional currencies, according to Fintech News Singapore.

Nium's network spans 100 currencies and 190 countries, and its cross-border payments infrastructure moved more than 84 billion US dollars over the past year. Nium connects to stablecoin networks through partnerships with regulated blockchain infrastructure providers and sends payouts through its own licensed payment network. The deal pairs a fast-growing consumer stablecoin app with one of Asia's largest payout networks, and it shows where the stablecoin payments race is heading.

What RedotPay and Nium announced

RedotPay offers stablecoin accounts and cards that let users spend digital dollars and move money across borders. Its growth to more than nine million users reflects demand from people who earn, save or receive money in stablecoins and need practical ways to use it.

The partnership extends RedotPay's off-ramp coverage, the ability to convert stablecoins into local currency and deliver it to a bank account or wallet. The companies did not name the new markets that will be added. Nium will handle conversion and payout through its licensed network, while its blockchain partners connect to the stablecoin side.

Prajit Nanu, Nium's chief executive and co-founder, said stablecoins are becoming an everyday payment method rather than only a trading asset, and that RedotPay's users constantly move between digital and traditional money. Michael Gao, RedotPay's chief executive and co-founder, said the company is building an inclusive platform that makes finance more accessible, and that Nium's off-ramp infrastructure will help users put their digital assets to work for everyday needs.

• RedotPay: Hong Kong-based stablecoin payment platform with more than nine million users.
• Nium: payments network spanning 100 currencies and 190 countries.
• Nium volume: more than 84 billion dollars moved over the past year.
• Purpose: expand stablecoin off-ramp coverage into new markets.
• Venue: announced at TOKEN2049 Singapore, 7 and 8 October 2026.

The deal follows a familiar pattern for Nium, which has built its business by providing payment infrastructure to other companies rather than competing for consumers itself. Banks, fintechs, travel companies and now stablecoin platforms use its network to reach recipients in countries where building their own payout connections would be slow and costly.

Why off-ramps decide stablecoin adoption

Stablecoins move across blockchains in minutes, at any hour, for low fees. But most of life still runs on local currencies. Rent, salaries, school fees and supplier invoices are paid in pesos, rupiah, baht, dong and dollars held in bank accounts. A stablecoin that cannot be converted cheaply and quickly into local money has limited use for most people.

That makes off-ramps the bottleneck. Every conversion requires licences, banking relationships, compliance checks and local payout connections. Building those in one country is hard, and building them in dozens is a multi-year effort, which is why partnering with an existing network like Nium is attractive.

The same logic applies in reverse for on-ramps. Users need to get money into stablecoins as well as out. Platforms that offer both, with transparent pricing and reliable speed, will capture the flows that make stablecoins genuinely useful.

Sending a stablecoin takes seconds. Turning it into rent money is the hard part, and that is where the business is.

Cost transparency is part of the challenge. Users often see a low headline fee for sending stablecoins, then pay more than expected through exchange rate spreads at the point of conversion. Off-ramp providers that show the full cost upfront, including the rate applied, will build more trust than those that bury margins in the conversion.

TOKEN2049 and the institutional turn

The announcement came at TOKEN2049 Singapore, held at Marina Bay Sands on 7 and 8 October. Organisers had said they expected about 25,000 attendees from more than 7,000 companies across 160 countries, making it the largest gathering of the crypto industry this year after the Dubai edition moved to 2027.

Institutional participation was a central theme, with senior figures from major banks, asset managers and exchanges listed among speakers and attendees. Many of the week's most significant announcements came from infrastructure providers rather than token projects, including bank custody plans and payment partnerships.

That shift is visible in the RedotPay and Nium deal. A consumer stablecoin app relying on a licensed payments network for its off-ramps is a sign that the crypto and traditional payments worlds are converging. Our coverage of Standard Chartered's custody plans in Singapore shows the same convergence on the institutional side.

The stablecoin payments landscape in Asia

Demand for stablecoin payments in Asia is strong. A Visa survey of 14,250 consumers in 14 Asia Pacific markets found that 49 percent expect stablecoins could become a common way to send money abroad within five years, with intent to use stablecoins highest in Vietnam and India at 67 percent. We covered the findings in our report on the Visa survey.

Supply is catching up. In the same week, Independent Reserve launched fiat and stablecoin cross-border payments for businesses in Singapore, Yuno added a Coinbase stablecoin checkout for merchants worldwide, and Coinbase announced USDC as the default dollar stablecoin in Samsung Wallet in the US. Earlier, Circle agreed to buy Singapore-based cross-border payments firm Tazapay.

Regulation remains uneven. Singapore is consulting on giving its stablecoin framework legal force, Hong Kong has its own stablecoin regime, and countries such as Indonesia and Thailand restrict the use of stablecoins in domestic payments. Off-ramp providers must navigate those rules market by market, which favours networks with local licences.

What it means for users and businesses

For individual users, more off-ramp coverage means more practical ways to use stablecoins: receiving payments from abroad, holding digital dollars and converting to local currency when needed. Users should compare conversion rates and fees, which vary between providers, and understand the compliance checks that licensed networks apply.

For businesses, especially freelancers and small exporters paid in stablecoins, reliable off-ramps reduce the risk of holding digital assets they cannot easily spend. Payment providers that can deliver local currency quickly and transparently will win these customers.

For banks and remittance companies, the deal is competitive pressure. Stablecoin platforms backed by licensed payout networks can offer fast, low-cost cross-border transfers, challenging traditional remittance pricing in corridors across Asia.

Remittances are the clearest example. Workers abroad sending money home to the Philippines, Vietnam or Indonesia want speed and low cost, and families receiving the money want it in local currency in a bank account or e-wallet. A stablecoin route with a reliable local payout can meet both needs, provided conversion costs stay competitive with established remittance services.

The risks to watch

Stablecoin off-ramps sit at the intersection of crypto and traditional finance, which makes them a focus for anti-money laundering scrutiny. Authorities in several Asian countries have linked stablecoins to mule accounts and illicit flows. Licensed networks must apply strict monitoring, and users may face checks or delays if transactions look unusual.

Concentration is another risk. If many stablecoin apps rely on a handful of payout networks, an outage or regulatory action at one provider could disrupt many services at once. Diversified payout arrangements will matter as volumes grow.

Finally, users should understand what they hold. A stablecoin balance in an app is not a bank deposit, and protections differ by provider and jurisdiction. Reading the terms and choosing licensed platforms reduces the risk.

RedotPay's partnership with Nium is a practical step in the stablecoin story. Adoption in Asia depends less on new tokens than on reliable ways to move between digital dollars and local money, and licensed payout networks are becoming the bridge. As consumer demand grows and regulators define the rules, the companies that control the off-ramps will shape how stablecoins are used across the region.