Overview of the New Stablecoin

StraitsX has unveiled its stablecoin, XSGD, pegged to the Singapore dollar, now available on the XRP Ledger to address the increasing demand for regulated multi-chain stablecoins.

Key Features of XSGD

• Fully backed by reserves with DBS Bank and Standard Chartered.
• Available across several blockchain platforms for improved cross-border payment solutions.

What You Should Know

• The XSGD stablecoin’s total supply is around 14.12 million, with over 8 billion transactions recorded on-chain. It functions on Ethereum, Avalanche, Arbitrum, Polygon, Zilliqa, and Hedera.

Quotes

• Liu Tianwei, Co-Founder and Deputy CEO of StraitsX, stated:

  “At StraitsX, we’ve always approached stablecoins not just as digital representations of fiat, but as critical infrastructure for the future of financial markets. Launching XSGD on the XRP Ledger is a meaningful step toward that vision…”

• Fiona Murray, Managing Director at Ripple, commented:

  “The launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments…”

Future Plans

• The introduction of XSGD represents an initial phase, with further developments focused on institutional applications, including programmable payouts and efficient compliance integrations expected in future rollouts.