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TL;DR
- Reap has launched its Virtual Asset Ledger. Clients of its card issuing platform can now enable users to spend bitcoin and other virtual assets from their existing balances.
- Conversion takes place at the point of sale at the platform's live rate, without a prior swap, unstaking, or a separate funding pipeline.
- Cash and bitcoin can contribute to a single spending limit. A user holding $400 in cash and $600 in bitcoin would see $1,000 available to spend, while the platform retains control over which balance funds each transaction.
- Clients can also define and manage their own fixed-rate units, such as cashback, loyalty points, credit lines and monthly salary allowances, and make them spendable through the same card.
- Clients retain custody of user funds and the customer relationship throughout. Reap neither custodies the underlying assets nor operates as an exchange.
What Reap launched: a Virtual Asset Ledger for card spend
HONG KONG, 9 September 2026 – Reap, a global financial technology company that enables financial connectivity and access for businesses worldwide through stablecoin-enabled infrastructure, today announced the launch of its Virtual Asset Ledger, enabling clients of its card issuing platform to spend bitcoin and other virtual assets from their existing balances. With this first-in-market offering, Reap enables faster, real-time conversion and efficient settlement for clients.
Why spending directly against virtual assets matters
Card spending funded by virtual assets more than tripled over the past year, reaching $1.04 billion in July 2026, with dollar-backed stablecoins funding 70% of more than 10 million tracked transactions, according to CoinDesk. Average transaction size rose to approximately $86 from $59 a year earlier, a shift that points toward more daily routine purchases like groceries, transport and subscriptions, rather than one-off conversions.
Asia Pacific now accounts for the largest regional share of crypto card payment volume on the Visa network, according to the Visa Economic Empowerment Institute. CoinDesk also reported more than 160 stablecoin-linked card programmes live or in development globally as of June 2026.
What the Virtual Asset Ledger changes
Historically, card companies could allow users to spend bitcoin and other virtual assets with a card via two approaches: converting their holdings to stablecoins first, or building a bespoke treasury flow for the asset. With Reap, platforms can now enable users to spend directly against the bitcoin and other virtual assets they already hold. Conversion takes place at the point of sale at the platform's live rate, without a prior swap, unstaking, or a separate funding pipeline.
Fintechs can mirror each user's virtual asset balance to Reap and price it from their own feed. Cash and bitcoin can then contribute to a single spending limit. A user holding $400 in cash and $600 in bitcoin would see $1,000 available to spend, while the platform retains control over which balance funds each transaction. Spending limits remain a function of the collateral the client has posted.
Which balances can sit on one Reap account
Beyond crypto, clients can now define and manage their own fixed-rate units, such as cashback, loyalty points, credit lines and monthly salary allowances, and make them spendable through the same card. This removes the need for separate redemption portals or payment flows. These balances can coexist on one account and contribute to a single available balance, rather than being held in separate buckets.
Balances a client can combine on one Reap card programme
What this means for neobanks, wallets and consumer fintechs
The expansion of the platform allows a neobank or consumer fintech to streamline how users hold a cash balance alongside bitcoin and other virtual assets. Traditionally, these operate as separate products: the card draws on cash, while assets like bitcoin remain in a separate wallet until the user sells them before they can be spent.
The same programme can carry the fintech's own cashback as a third balance, allowing rewards to be credited to the card user directly without a separate redemption flow. A wallet can now pair bitcoin from custody with cashback from its own programme. A corporate platform can pair a salary allowance with a credit line.
"The moment a Bitcoin or virtual asset holder needs to pay for something, the only options have been to liquidate a position they intend to keep, or swap into a stablecoin first. 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.
How the programme is structured
Clients retain custody of user funds and the customer relationship throughout. Reap holds a master collateral account in USDC or USDT, which the client maintains to back outstanding card spend across the programme. Reap neither custodies the underlying assets nor operates as an exchange. Treasury management and conversion remain entirely with the client.
Availability
Bitcoin support is available now to card issuing clients through Reap's existing API. Cards issued through Reap are issued from Hong Kong and Mexico, and can be used wherever Visa is accepted. In 2025, Reap grew 3X (200%) year-on-year in both revenue and volumes.
Sources
- CoinDesk, "Crypto card spending tops $1 billion as stablecoins move into everyday purchases", August 2026
- Visa Economic Empowerment Institute, "Crypto card activity rebounds, expands globally", March 2026
- Reap, internal data, August 2026
Frequently asked questions
What is Reap's Virtual Asset Ledger?
It enables clients of Reap's card issuing platform to spend bitcoin and other virtual assets from their existing balances.
How does conversion work?
Conversion takes place at the point of sale at the platform's live rate, without a prior swap, unstaking, or a separate funding pipeline.
Does Reap custody the underlying assets?
No. Clients retain custody of user funds and the customer relationship throughout. Reap holds a master collateral account in USDC or USDT, which the client maintains to back outstanding card spend across the programme. Reap neither custodies the underlying assets nor operates as an exchange.
What balances can a client define?
Fixed-rate units such as cashback, loyalty points, credit lines and monthly salary allowances, made spendable through the same card.
Where can cards issued through Reap be used?
Cards issued through Reap are issued from Hong Kong and Mexico, and can be used wherever Visa is accepted.
When is bitcoin support available?
Bitcoin support is available now to card issuing clients through Reap's existing API.
About Reap
Reap is a global financial technology company that enables financial connectivity and access for businesses worldwide through stablecoin-enabled infrastructure. We transform the financial landscape through more efficient money movement by merging traditional finance with digital assets, bridging disparate economies and connecting key financial markets.
Reap was an early leader in Asia to incorporate stablecoins into our solutions. In 2025, Reap processed billions in stablecoin-funded transaction flows. From stablecoin-enabled corporate cards to cross-border payments, we streamline financial operations and empower companies to scale with our integrated business accounts and embedded finance solutions.
Founded and headquartered in Hong Kong, Reap employs 300 people worldwide.
More information about Reap can be found at reap.global.
