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Singapore/Manila, December 4, 2025.
Plasma, the Tether-backed high-performance Layer-1 blockchain, has officially integrated with AliXPay, one of Southeast Asia’s largest digital wallet networks.
The partnership instantly enables more than 200 million consumers to spend USDT at over 34 million merchant locations with real-time conversion to local fiat, marking one of the largest real-world stablecoin rollouts in history.
In a move that industry insiders are calling “the on-ramp the stablecoin world has been waiting for,” Plasma announced today a full integration with AliXPay (the regional payment giant connected to the Alipay+ global network).
Starting immediately, any user holding USDT on Plasma can walk into convenience stores, restaurants, ride-hailing apps, and street markets across Indonesia, Thailand, Malaysia, Philippines, Vietnam, and Singapore and pay by simply scanning a QR code, with funds settling instantly in local currency for merchants.
No gas fees.
No volatility exposure.
No waiting days for bank transfers.
Key Takeaways
- 200+ million consumers can now spend USDT in the real world with zero friction
- 34+ million merchants gain access to crypto-native liquidity without volatility risk
- Transactions are fee-free on Plasma and settle instantly in local currency
- The partnership covers six major ASEAN markets and is already live
- Compliance is built-in via Elliptic, making this enterprise- and regulator-friendly
Background on the Players
Plasma launched its mainnet in early 2025 with a singular focus: become the fastest, cheapest, and most scalable home for stablecoin payments.
Powered by PlasmaBFT consensus, the chain routinely processes thousands of transactions per second while offering completely fee-free USDT transfers. Within months of launch, Plasma surpassed $2 billion in stablecoin total value locked (TVL) and secured partnerships with Aave, Ethena, and Elliptic.
AliXPay, meanwhile, has quietly grown into one of Southeast Asia’s most ubiquitous payment rails, connecting hundreds of millions of consumers and tens of millions of merchants through a single QR ecosystem that includes GCash, TrueMoney, Touch ’n Go, DANA, and dozens of others.
How the Integration Works
- Users hold USDT natively on Plasma (or bridge from Ethereum, Tron, etc.).
- At checkout, they open their preferred AliXPay-connected wallet and scan the merchant’s QR code.
- Plasma’s payment API instantly settles the transaction on-chain.
- The merchant receives local fiat (IDR, THB, PHP, MYR, SGD, VND) in their bank account within seconds, without ever touching cryptocurrency.
The entire flow is powered by PlasmaPay, the blockchain’s merchant gateway, and guarded by Elliptic’s real-time transaction monitoring for AML and sanctions compliance.
Why This Changes Everything
Southeast Asia is the perfect storm for stablecoin adoption:
- 70% of the population is underbanked or unbanked
- Annual cross-border remittances exceed $80 billion
- Digital wallet penetration is exploding (Indonesia alone added 20 million new digital payment users in 2024)
Until today, stablecoins were mostly used for trading, DeFi yield, or expensive cross-border wires.
Plasma and AliXPay have removed the last major friction points.
Conclusion
Today’s announcement is not another pilot or proof-of-concept. It is the largest live deployment of stablecoin merchant payments ever executed.
Plasma has effectively turned USDT into digital cash for one of the world’s fastest-growing economic regions, and shown the rest of the planet a blueprint that can be replicated globally.
With Plasma One (its upcoming neobank) and further payment service provider partnerships already in the pipeline, 2026 could see stablecoins rival Visa and Mastercard in emerging markets.
Read Next:
- STBL Protocol Launches Stablecoin 2.0
- Stablecoins for Carbon Credits
- Rise Stablecoin Payroll Review 2026
FAQs:
1. Can I really use USDT at street food stalls and 7-Eleven in Southeast Asia right now?
Yes. As of December 4, 2025, any merchant displaying the AliXPay/Alipay+ QR code accepts USDT via Plasma, from hawker centres in Singapore to night markets in Bangkok and minimarts across Manila.
2. Do merchants receive crypto or local currency?
Merchants receive 100% local fiat instantly. They never touch USDT or bear any price risk.
3. Are there any fees for the consumer?
USDT transfers on Plasma are completely free. AliXPay may apply its standard (very low) wallet-to-merchant fee in some countries, but the blockchain layer costs nothing.
4. Is this available only in certain countries?
The integration is live across Indonesia, Thailand, Malaysia, Philippines, Vietnam, and Singapore, with Cambodia and Laos expected in Q1 2026.
5. How do I get started if I want to spend USDT this way?
Download any AliXPay-connected wallet (GCash, TrueMoney, DANA, etc.), bridge or buy USDT to the Plasma chain (via plasma.net or supported exchanges), and start scanning QR codes, no KYC required for basic spending in most jurisdictions.
