SQRIL, the world’s first crossborder scan-to-pay QR code infrastructure for emerging markets, its expansion into Thailand and Cambodia. This milestone makes SQRIL the first platform in these regions to support seamless, real-time stablecoin-to-fiat QR code payments at local merchants.
Following its successful operations in the Philippines, Vietnam, and Indonesia, SQRIL’s API now allows digital wallets, crypto apps, and neobanks to offer their users the ability to pay using USD stablecoins such as Tether (USDT) at any merchant displaying national QR standards like Thailand’s PromptPay or Cambodia’s KHQR.
Unlocking Global Stablecoin Liquidity for Local Merchants
While regional central banks have established local currency linkages, SQRIL is pioneering a new layer of interoperability by integrating blockchain-based assets directly into these national payment rails. This allows travelers and digital asset holders to:
- Pay Instantly: Users scan a local QR code and pay with stablecoins from their preferred app.
- Settle in Fiat: SQRIL handles the complex backend conversion, ensuring merchants receive the exact amount in their local currency (THB or KHR).
- Reduce Friction: By bypassing traditional legacy banking delays and high cross-border fees, SQRIL provides a faster, more cost-effective payment experience.
A Vision for Universal Scan-to-Pay
“We are at the early stages of instant payment interoperability between banks, e-wallets, and crypto apps,” said Malcolm Weed, Founder & CEO of SQRIL. “With millions of stablecoin holders globally and the dominance of national QR schemes in Southeast Asia, SQRIL is providing the essential infrastructure to make ‘Scan-to-Pay’ a universal standard for the digital age”.
Backed by strategic investments from Plan B VC Fund (Tether & Fulgur Ventures), SQRIL is rapidly scaling its network to bridge the divide between Web3 and traditional retail across Asia, Africa, and Latin America.
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