Singapore, Singapore, October 8, 2024 — Bitstamp has listed XSGD, a Singapore Dollar-pegged stablecoin created by StraitsX. This move is set to enhance cross-border payments and efficient alternative to traditional financial systems.
XSGD, backed 1:1 by the Singapore Dollar and fully supported by reserve assets, aims to provide stability and confidence for global users.
With XSGD now available on Bitstamp, businesses and individuals can enjoy faster settlement times, reduced transaction costs, and competitive exchange rates. The stablecoin is positioned to drive financial inclusion and open access to new markets, especially in the APAC region.
XSGD is available globally, except for US and EU countries, marking a milestone in the mass adoption of stablecoins.
XSGD, developed by StraitsX, is Singapore’s first dollar-backed stablecoin, designed to facilitate secure and efficient digital transactions. Launched in 2020, XSGD is pegged 1:1 to the Singapore Dollar and is fully backed by reserve assets, ensuring transparency and stability for users.
As a Major Payment Institution licensed by the Monetary Authority of Singapore, StraitsX aims to enhance the digital payments landscape in Southeast Asia.
