xsgd

StraitsX has launched XSGD (Singapore Dollar backed) and XUSD stablecoins on Solana. Users can now exchange Singapore Dollars and US Dollars on-chain without the need for banks or traditional forex brokers.

ChainCatcher news, according to the official blog, Coinbase will launch the Australian dollar stablecoin AUDD and the Singapore dollar stablecoin XSGD on September 29 at 19:00 (UTC).

ChainCatcher news, according to The Block, PlatON has successfully integrated the compliant stablecoins XSGD (1:1 pegged to the Singapore Dollar) and XUSD (1:1 pegged to the US Dollar) issued by StraitsX into its network. Users can freely send, receive, and hold XSGD and XUSD on PlatON. With the collaboration of multiple stablecoin issuers and cross-border payment institutions, PlatON will provide richer payment scenarios for XSGD and XUSD, including online and offline payment network access, cross-border remittance services, and stablecoin exchange services.It is reported that StraitsX is a major payment institution authorized by the Monetary Authority of Singapore (MAS). This collaboration with PlatON not only provides high-performance underlying infrastructure for XSGD and XUSD but also, through cooperation with licensed acquirers such as Allinpayintl, builds a complete link from stablecoin issuance, cross-border payments to local consumption, enabling merchants in regions such as Singapore and Hong Kong to accept digital currencies, allowing stablecoins to be used conveniently and securely in online and offline payment settlement scenarios.

ChainCatcher news, Southeast Asia's multifunctional online service platform Grab has partnered with Triple-A to launch a cryptocurrency payment feature, allowing users to make payments in Singapore using five cryptocurrencies (BTC, ETH, XSGD, USDC, and USDT).Grab ventured into the Web3 space as early as September 2023 and collaborated with Circle to launch a pilot project for a Web3 wallet within the Grab super app. Although Singapore takes a cautious stance on cryptocurrencies, it remains welcoming towards innovation.

ChainCatcher news, digital asset payment infrastructure StraitsX has launched the Singapore dollar stablecoin XSGD on Hedra, allowing users to send and receive XSGD on the Hedera network through the StraitsX platform. The Hedra Foundation stated that XSGD may be listed on exchanges in the coming months. (source link)