May 21, 2025<\/p>\n\n\n\n
By Our Correspondent<\/p>\n\n\n\n
In response to the growing demand for regulated multi-chain stablecoins, StraitsX has introduced its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger.
XSGD is accessible on several blockchain platforms and is entirely backed by reserves held with DBS Bank and Standard Chartered.
As part of a strategic alliance to improve cross-border payment options, XSGD has been added to the XRP Ledger.
To meet the increasing need for regulated multi-chain stablecoins that facilitate real-time cross-border payments, crypto infrastructure provider StraitsX launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL).<\/p>\n\n\n\n
Financial institutions, fintech companies, and producers of digital assets can use XSGD to establish programmable financial flows, settle transactions on-chain, and carry out cross-border transactions.<\/p>\n\n\n\n
In 2020, StraitsX, a significant payment company with a Singaporean Monetary Authority license, started issuing XSGD. The Singapore dollar-pegged stablecoin is completely backed 1:1 by reserves held at Standard Chartered and DBS Bank.<\/p>\n\n\n\n
At the time of writing, there were 14.12 million XSGD in total supply, and there were more than 8 billion onchain transactions. The stablecoin can be found on Hedera, Zilliqa, Polygon, Ethereum, Arbitrum, and Avalanche.<\/p>\n\n\n\n
“At StraitsX, we’ve always viewed stablecoins as essential infrastructure for the financial markets of the future, not just as digital versions of fiat. Liu Tianwei, co-founder and deputy CEO of StraitsX, told newspapers that the launch of XSGD on the XRP Ledger is a significant step toward that goal: an expansion of interoperability, programmability, and access across networks that were specifically designed for real-world value exchange.
In the upcoming years, when cross-border economic activity is predicted to grow, regulated stablecoins like XSGD are better positioned to experience growing adoption. For example, by 2030, cross-border e-commerce in Asia is predicted to reach $4 trillion, according to some projections. Meanwhile, a survey released last year by Infosys Finacle estimates that by 2027, global cross-border payments will reach $250 trillion.<\/p>\n\n\n\n
When talking about the several ways fintechs use to move money, the report brought up Ripple. According to the research, the real-time fund settlement provided by Ripple “eliminates the need for pre-funding destination accounts and supports low-cost payments within seconds.”<\/p>\n\n\n\n
According to the press release, XSGD’s launch on the XRP Ledger is the first of several planned rollouts described in the strategic collaboration.<\/p>\n\n\n\n
StraitsX intends to launch a second phase in June that will concentrate on institutional applications, such as merchant settlements, programmable payouts, and smooth compliance integrations for a range of financial processes.”<\/p>\n\n\n\n
According to Fiona Murray, general director of APAC at Ripple, “StraitsX’s introduction of XSGD on the XRP Ledger highlights that digital assets, including stablecoins, could play a crucial role in payments.”<\/p>\n\n\n\n
Stablecoins like XSGD are becoming more and more popular as a means of supporting enterprise-grade use cases in the areas of payments, liquidity, and compliance-first infrastructure. In order to supply regulated assets that potentially transform cross-border payments and generate value for financial institutions, we have partnered with StraitsX to add XSGD to the XRP Ledger,” Murray continued.<\/p>\n\n\n\n
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May 21, 2025 By Our Correspondent In response to the growing demand for regulated multi-chain stablecoins, StraitsX has introduced its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger. XSGD is accessible on several blockchain platforms and is entirely backed by reserves held with DBS Bank and Standard Chartered. As part of a strategic alliance to […]<\/p>\n","protected":false},"author":4,"featured_media":7708,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[129],"tags":[],"class_list":["post-7704","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum"],"yoast_head":"\n