- StraitsX expands the use of stablecoins in Asia by adding XSGD (Stabilized Dollars) to XRP Ledger.
- Integration of XSGD and DBS/Standard Chartered reserves to support fast, transparent payments.
StraitsX took a new step to expand its digital currency by introducing Singapore dollar-backed stablecoinXSGD to the XRP Ledger. This move extends a partnership that has been active with Ripple, and it is intended to improve real-time payment networks for digital currencies in Asia. This launch provides additional options to regulate digital currency usage on public Blockchains.
XSGD now available on the XRP Ledger https://t.co/BjjTBRed3b@StraitsX Brings its SGD-backed, regulated stablecoin on the Blockchain built for real time payments and tokenization. 🇸🇬
Discover how XSGD enables the flow of value in Asia. 🌏
— RippleX (@RippleXDev) May 19, 2025
XSGD, which is pegged 1:1 to Singapore dollar, is issued by an entity licensed by Singapore Monetary Authority. Two of Singapore’s major banks DBS & Standard Chartered hold the money in reserve, providing users with high levels of assurance. Users will benefit from a faster and more transparent system of payment, seasoned to meet local financial regulations.
Ledger XRP is a digital ledger that stores XRP. Also known as XRPLThe XRPL protocol, which includes XSGD as part of a financial flow and tokenization system for high volume transactions, was designed to facilitate these flows. Inclusion of XSGD in XRPL provides developers, financial institutions, and fintech companies with a new tool. Create real-time mobile payment applications with additional tools
The Growing Use of Stablecoins Regulated in Asia
Asia’s trans-border trade, which is expected to exceed US$4 billion by 2030 has seen a rise in demand for programmable financial instruments. StraitsX is a leading player in this market. regulated Incorporate stablecoins to an environment that allows institutions to settle instantly, without the need for complex delays.
Fiona Murray Fiona Murray is the Managing Director of Ripple for APAC.
StraitsX’s launch of XSGD via the XRP Ledger shows that digital assets such as stablecoins could be a key part in payments. StraitsX is a forward-looking partner with whom we are proud to work to create a future of open and enterprise-grade payment systems in Singapore.
StraitsX allows its users to already mint and redeem XSGD on the current StraitsX platform. This also enables integration with decentralized wallets and apps. All these features are intended to accelerate the adoption of stablecoins in retail and institutional systems.
In June 2025, the institution will be rolled out.
This integration is just a beginning. StraitsX will launch its second phase in 2025 to target institutional and business users. Next phase will include programmable tools for payouts and merchant transactions. It also includes integrations that are specific to regulatory requirements. This is designed to satisfy both financial regulators and speed requirements.
“The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading,” Liu Tianwei said, StraitsX Co-Founder and Vice CEO.
Stablecoins such as XSGD, which are regulated, will be the basis for financial services that can operate in real time, without borders, and with compliance.
XSGD currently runs on multiple chains including Arbitrum, EthereumPolygon, Avalanche Zilliqa and Hedera. The inclusion of XRPL makes it even stronger in terms of support for cross-chains and extends the support to more infrastructures of payment in Singapore and Asia.
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Source: www.crypto-news-flash.com
