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StraitsX Launches Its Singapore-Dollar Pegged Stablecoin, XSGD, on XRP Ledger

StraitsX has launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger to meet the rising demand for regulated multi-chain stablecoins in cross-border payments.

What to know:

StraitsX has launched its Singapore dollar-pegged stablecoin XSGD on the XRP Ledger to meet the rising demand for regulated multi-chain stablecoins.

XSGD is fully backed by reserves held with DBS Bank and Standard Chartered and is available on multiple blockchain platforms.

The expansion of XSGD to the XRP Ledger is part of a strategic partnership aimed at enhancing cross-border payment solutions.

Crypto infrastructure provider StraitsX debuted its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL) to cater to growing demand for regulated multi-chain stablecoins supporting real-time cross-border payments.

Digital asset developers, fintechs firms and financial institutions can use XSGD to conduct cross-border transactions, settle transactions on-chain and create programmable financial flows.