{"id":27576,"date":"2025-05-19T23:16:43","date_gmt":"2025-05-19T23:16:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27576"},"modified":"2025-05-19T23:16:43","modified_gmt":"2025-05-19T23:16:43","slug":"straitsx-launches-its-singapore-dollar-pegged-stablecoin-xsgd-on-xrp-ledger","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27576","title":{"rendered":"StraitsX Launches Its Singapore-Dollar Pegged Stablecoin, XSGD, on XRP Ledger"},"content":{"rendered":"
\n

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.<\/p>\n

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. XGSD is being powered by XRPL, a decentralized public blockchain from Ripple.<\/p>\n

StraitsX, a major payment institution licensed by the Monetary Authority of Singapore, began issuing XSGD in 2020. The stablecoin pegged to the Singapore dollar is fully backed 1:1 by reserves held with DBS Bank and Standard Chartered.<\/p>\n

As of writing, XSGD had a total supply of 14.12 million, with an onchain transaction count<\/a> exceeding 8 billion. The stablecoin is available on Arbitrum, Avalanche, Ethereum, Polygon, Hedera and Zilliqa.<\/p>\n

“At StraitsX, we\u2019ve 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 \u2013 an expansion of interoperability, programmability, and access across networks that were purpose-built for real-world value exchange,” Co-Founder and deputy of StaitsX, Liu Tianwei, told CoinDesk.<\/p>\n

Regulated stablecoins like XSGD are better positioned to see increased adoption in the expected boom in cross-border economic activity in the coming years. For instance, per some estimates, cross-border e-commerce in Asia is expected to surpass $4 trillion by 2030. Meanwhile, global cross-border payments are projected to hit $250 trillion by 2027, according to a report published by Infosys Finacle last year.<\/p>\n

The report mentioned Ripple while discussing various methods fintechs employ for money transfer. The report said that Ripple’s real-time settlement of funds “eliminates the need for pre-funding destination accounts and supports low-cost payments within seconds.”<\/p>\n

Opening move<\/h4>\n

The debut of XSGD on the XRP Ledger marks the beginning of a series of upcoming rollouts outlined under the strategic partnership, the press release said.<\/p>\n

In June, StraitsX plans to introduce a second phase focused on institutional applications, including programmable payouts, merchant settlements, and seamless compliance integrations for various financial workflows.<\/p>\n

“StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments” said Fiona Murray, managing director of APAC at Ripple.<\/p>\n

“We are seeing a growing appetite for stablecoins like XSGD to support enterprise-grade use cases across payments, liquidity, and compliance-first infrastructure. Our collaboration with StraitsX to bring XSGD to the XRP Ledger supports our commitment to delivering regulated assets that can reshape cross-border payments and unlock value for financial institutions,” Murray added. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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. XGSD is being powered […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27576","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27576"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27576\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}