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Plasma’s partnership with Stripe to build multi-currency stablecoin payment cards pushed its XPL token up 10.92%, according to Ambcrypto, as 24-hour trading volume expanded 65.51% to $114 million. The two companies announced the deal on October 15, 2026, with Plasma acting as a design partner for Stripe’s stablecoin card infrastructure.
Cryptobriefing reported that the cards let users pay directly from the balances they hold rather than converting everything into one currency at checkout. The push follows Stripe’s earlier acquisition of Bridge in 2024 and its continued expansion of stablecoin-linked card issuing.
Also read: OUSD Stablecoin Launches With $1 Billion From Visa, Stripe Backers
Key facts
- XPL rose 10.92% after the Stripe partnership was announced, with 24-hour trading volume up 65.51% to $114 million, per Ambcrypto.
- Derivatives trading volume climbed 99.79% to $250.73 million and open interest rose 17.62% to $213.62 million, according to CoinGlass data cited by Ambcrypto.
- The cards support six currencies; Ambcrypto lists USD, EUR, BRL, MXN, COP and PEN, while Cryptobriefing lists USD, EUR, GBP, BRL, MXN and COP, alongside stablecoins USDC and OUSD.
- The cards are usable in more than 30 countries, with expansion targeting over 100 markets by 2027.
- Plasma One, the company’s stablecoin-native neobank, launched publicly in June 2026 and offers three tiers of Visa-linked cards with cashback paid in XPL.
Why the XPL move drew traders
The announcement pulled attention to Plasma’s payment infrastructure and to its token. According to Ambcrypto, the 24-hour long/short ratio reached 1.0807, and Binance’s top traders showed 1.3607 on an account basis and 2.6971 on a position basis, indicating a heavier concentration of long positions.
Leverage carried risk as well. Total liquidations reached $292.74K, made up of $218.32K in longs and $74.44K in shorts, meaning long traders accounted for roughly 75% of that total despite the broader bullish positioning.
Also read: China P2P stablecoin wallets grew 43-fold, Chainalysis finds
On the daily chart, XPL recovered from $0.07514 support and pushed toward $0.08512, with resistance at $0.08996. The RSI stood at 45.36, below the neutral 50 mark but above its 44.67 moving average, which Ambcrypto read as relatively weak buying pressure.
Why it matters
Stripe’s stablecoin card spending has reached approximately $1.2 billion monthly as of 2026, according to Cryptobriefing. Bringing a stablecoin-native neobank into that card infrastructure points at where payment competition is heading: spending directly from stablecoin balances instead of converting into fiat first.
Plasma’s existing product mix already includes card spending from self-custodied balances or account balances, cashback in XPL, yields of up to 6%, and fee-free USDT transfers on the Plasma network, per Cryptobriefing. A closer tie to Stripe’s issuing rails would extend that reach into everyday transactions across currencies.
What to watch
Two data points matter next. On the chart, whether XPL clears the $0.08996 resistance or slips back toward $0.07514 support, with the RSI’s position below 50 in the balance. On the product side, the expansion from more than 30 countries toward the stated 2027 target of over 100 markets and the arrival of automatic currency selection will show how far the Stripe build-out has progressed.
XPL is a volatile asset, and price levels, futures positioning and liquidation figures can change quickly. Nothing here is financial advice, and this market is uncertain.
Reported by ambcrypto.com.
Sources: AMBCrypto, Cryptobriefing