Hong Kong-headquartered fintech Reap has launched a Virtual Asset Ledger that allows clients of its card-issuing platform to make bitcoin and other virtual-asset balances spendable through the same card infrastructure used for conventional balances.
The company said Wednesday that conversion can take place at the point of sale using a price set by the client, rather than requiring users to sell an asset or convert it into a stablecoin before spending.
Bitcoin support is available through Reap’s existing API. The company said cards issued through its platform in Hong Kong and Mexico can be used wherever Visa is accepted.
One card can draw on multiple types of value
Reap’s new ledger is designed for exchanges, wallets, fintech companies and other platforms that want to connect multiple asset types to a single card program.
According to Reap’s product documentation, clients can define assets and pricing methods, maintain user balances and send balance updates to Reap. Multiple balances can then contribute to one available spending limit.
The system can support bitcoin and other cryptocurrencies as well as stablecoins, cashback, loyalty points, credit lines and allowances. Reap said the client retains custody of the underlying user assets and controls the customer relationship and conversion logic.
Reap itself does not operate as an exchange or custody the underlying crypto assets. Instead, clients maintain a master collateral account in USDC or USDT to back card spending across the program.
That design separates the asset a user holds from the settlement rail used by the card program. For example, a platform could allow a customer’s cash and bitcoin balances to contribute to the same spending limit while deciding which balance is used for a particular transaction.
Crypto cards move closer to routine payments
The launch comes as card products linked to digital assets become more common. Reap cited CoinDesk data showing crypto card spending reached $1.04 billion in July 2026, while stablecoins funded 70 percent of more than 10 million tracked transactions. Those market figures come from external research cited in the company’s announcement.
Reap also cited Visa research indicating Asia Pacific accounts for the largest regional share of crypto card payment volume on Visa’s network.
The shift matters because earlier crypto-linked cards often required users to pre-convert assets into fiat or stablecoins before a purchase. Reap is positioning its ledger as infrastructure that lets a platform handle the conversion at authorization instead.
The company says the same architecture can extend beyond crypto. Rewards balances, salary allowances and credit lines can be represented as spendable units without requiring separate redemption flows.
Reap continues regulated Asia expansion
The product launch follows Reap’s broader expansion in regulated payments infrastructure. In 2025, Reap secured a Major Payment Institution license from the Monetary Authority of Singapore, allowing its Singapore entity to provide account issuance and domestic and cross-border money transfer services.
Reap said it grew revenue and transaction volumes by 200 percent year on year in 2025. That figure is based on company internal data.
The fintech is increasingly building infrastructure at the intersection of traditional card networks and digital assets. Its latest ledger pushes that model further by allowing the funding source behind a card transaction to be abstracted from the payment experience itself.
For fintech platforms, the appeal is less about turning every asset into a payment instrument than reducing the number of separate treasury and redemption systems required to make different balances usable. Whether the model gains broader adoption will depend on demand from exchanges and wallets, regulatory treatment in individual markets, and how effectively providers manage pricing, collateral and settlement risk.