Crypto card player Figo, announced on Wednesday, that it is scaling its offerings across 50 new markets including the Middle East, Latin America, and Asia-Pacific. The development will essentially allow Figo users in all of these 50 regions to spend in U.S. dollars via its USDC-backed stablecoin cards.
“A freelancer in Manila, a small business owner in Buenos Aires, a worker in Lagos — none of them want to think about blockchain. They want a card that works and dollars that hold their value. That is what we built,” Ojes said, announcing the development at the ongoing Consensys event in Miami, Florida.
Figo is not a bank, but a fintech platform that offers a USD-denominated prepaid Virtual Visa card. Both, Figo’s card and app were made live earlier this year, in a bid to help people in emerging markets bypass local payment declines for online shopping and subscriptions to international platforms like Netflix and Google Ads among others.
The platform offers a non-custodial wallet technology for users who fund their Figo cards in their respective native currencies. The cards can also be topped up as via the USDT or USDC stablecoins directly. Figo converts these crypto and fiat currencies into the U.S. dollar for usage.
At first, the Figo card was targeted for the Nigeria and Ghana markets. As of Tuesday, however, the product is also being made available in regions including the Caribbean, Africa, and Asia-Pacific.
“Cross-border transfers settle on stablecoin rails, enabling zero-cost corridors in regions historically dominated by 5–12 percent ulremittance fees. The product is a working answer to a decade-old question in crypto: how do stablecoins actually reach the global majority,” Figo said in a statement shared with The Coin Headlines on Wesnesday.
Source: SpendFigo
Stablecoins are becoming a popular mode of financial transactions in emerging markets. In April, a report by Bitso said that stablecoins officially overtook BTC-based purchases acorss Latin America in 2025.
Now, Figo claims that it is part of a network of 70 million merchants with 24/7 customer support. Its card can be accepted anywhere Visa is, the website claims. The platform charges $0.35 for processing USD transactions and levies a two percent foreign exchange rates.
In order to curb instances like hack-related or physically forceful card draining, Figo has capped single transaction limit to $2,500, daily spending limit to $5,000, and monthly limit to $25,000.
Visa officially partnered with Figo and its underlying infrastructure provider, Bridge back in April 2025. For the U.S.-based cards giant, the move aligned with its broader effort to propel stablecoins into the existing financial systems. The company has also put in-place a stablecoin advisory to assist its fintechs, merchants, and businesses clients around stablecoin uses and management.