US EditionSing$-Backed Stablecoin XSGD More Widely Available for Use with Launch on New Blockchain Platform
- StraitsX, a Singapore-based digital payment provider, launched the Singapore dollar-backed stablecoin XSGD on the XRP Ledger on May 20, 2025.
- The launch follows a strategic partnership with Ripple, aiming to increase access to regulated and programmable stablecoins amid rising cross-border commerce in Asia.
- XSGD is a stablecoin issued with complete backing through reserves maintained by DBS Bank and Standard Chartered, enabling compliant, instantaneous payments for both retail and institutional participants across multiple blockchain networks.
- Liu Tianwei, Deputy CEO of StraitsX, highlighted that digital currencies such as XSGD, which are regulated stablecoins, will play a crucial role in enabling seamless, cross-border financial services that operate in real time, reflecting future trends in financial infrastructure.
- A second launch phase in June 2025 will enable institutional use cases such as programmable payouts and merchant settlements, reflecting ongoing efforts to meet evolving regulatory and financial needs.
11 Articles
11 Articles
StraitsX Launches XSGD Stablecoin on the XRP Ledger, Expanding Access to the Regulated Digital SGD
StraitsX, Southeast Asia’s leading digital payment infrastructure provider, today announced the launch of its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), a decentralised layer-1 blockchain. The deployment marks the first phase of a broader collaboration with Ripple, a contributor to the XRP Ledger and a global leader in enterprise blockchain and crypto solutions. The initiative aims to accelerate the adoption of regulated…
New Singapore Dollar-Pegged Stablecoin Launches On XRP Ledger
Launching its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger, fintech company StraitsX represents a significant stride forward for the digital banking ecosystem in Southeast Asia. Financial powerhouses DBS Bank and Standard Chartered support the shift, therefore indicating increasing institutional support for blockchain-based payment systems in the area. Previously causing waves on other blockchains, including Ethereum and Polygon, …
Ripple’s $25M Education Donation Highlights Power of Stablecoins
Ripple has donated $25 million worth of its stablecoin RLUSD to two leading U.S. non-profit organizations DonorsChoose and Teach for America. Yoshitaka Kitao, CEO of SBI Holdings and Ripple’s major partner in Japan, announced the news via an X (formerly Twitter) post, linking to Ripple’s official blog. The blog highlights this donation as a strategic step toward using stablecoins to strengthen community support worldwide. Ripple’s contribution w…
Singapore Dollar-pegged Stablecoin Launches on XRP Ledger, Backed by DBS and Standard Chartered
Leading digital payment provider StraitsX has introduced its Singapore dollar-pegged stablecoin (XSGD) on the XRP Ledger, following a partnership with Ripple. Ripple announced the development yesterday, with The Crypto Basic also confirming the move in an X post. https://twitter.com/thecryptobasic/status/1924686429701189710 The move aligns with the company's efforts to cater to users' demands for multi-chain stablecoins capable of facilitating…
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