Pine Labs to Launch Stablecoin-Backed Prepaid Card in Select International Markets

Pine Labs, backed by Temasek and Peak XV, plans to launch a stablecoin-backed prepaid card across nine countries in the Middle East, Africa, and Southeast Asia by the end of April. The card will allow payments in local currencies via real-time conversion from consumers' stablecoin wallets. The company excludes India and China from this launch, citing regulatory considerations. This marks the first such initiative by a listed Indian fintech firm amid growing global adoption of stablecoins for cross-border payments.