Reap lands Visa principal issuer status in Mexico as stablecoin card push targets 250K users

Reap says Visa granted it Principal Issuer Membership in Mexico, adding to its Hong Kong license and giving it direct card issuing access in Asia and the Americas without third-party sponsors. The company expects roughly 250,000 new card users in Mexico, with first clients arriving in Q2 2026, and is positioning Mexico as its Americas hub for stablecoin-backed cards accepted across Visa’s 150M+ merchant network. The bet is stablecoins as collateral and settlement plumbing behind normal card UX, which is where regulated fintechs are trying to make crypto useful without forcing users onchain.

TLDR by @Benthic

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• Crypto Payment Card
• Mexico
• Visa
• Stablecoins