- StraitsX has launched its MAS-regulated stablecoin XSGD on the XRP Ledger to enable faster, low-cost cross-border payments, as part of a broader multi-chain expansion strategy.
- The move marks the first phase of a larger partnership with Ripple aimed at building institutional-grade digital infrastructure focused on tokenisation and real-time financial services.
Payment infrastructure firm StraitsX has added its Singapore dollar-pegged stablecoin, XSGD, to the XRP Ledger (XRPL), in an attempt to extend its regulated token into a faster, low-cost cross-border payment system.
The expansion was announced Monday and it’s part of the company’s multi-chain strategy to meet growing demand from fintechs, financial platforms, and digital asset developers seeking programmable, real-time transaction tools across borders, according to the press release.
StraitsX framed this as the “first phase” of a wider collaboration with Ripple focused on tokenisation. While details remain vague, the rationale is to build a regulated, institutional-grade digital infrastructure that goes beyond payments.
The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading. As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.
Tianwei Liu, StraitsX Co-Founder and Deputy CEO.Related: VanEck Unveils VBILL Tokenised Treasury Fund to Bring US Treasuries On-Chain
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XSGD was issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. The company is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, placing XSGD among the few stablecoins with both regulatory oversight and multi-chain deployment.
XSGD has over 8 billion on-chain transactions already, and a circulating supply above 13.6 million tokens. The stablecoin is live on Ethereum, Polygon, Hedera, Zilliqa, Arbitrum, and Avalanche.
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Regulators in Asia are sharpening their focus on fiat-backed digital assets, with Singapore moving early with a framework that supports tokenisation and institutional-grade custody.
StraitsX’s XSGD stands as one of the few regionally compliant stablecoins that has steadily expanded across ecosystems without sacrificing regulatory alignment, the reason why Ripple has decided to collaborate with a “forward-looking” partner like them, as stated by Ripple’s Fiona Murray.
We’re proud to collaborate with forward-looking partners like StraitsX to lay the groundwork for an open, enterprise-grade payments future in Singapore and beyond,
Fiona Murray, Managing Director, APAC, Ripple.Credit: Source link
