StraitsX, Southeast Asia’s leading digital payment infrastructure provider, has announced the launch of its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), a decentralised blockchain. This marks the first phase of a strategic collaboration with Ripple, aiming to accelerate the adoption of regulated stablecoins in institutional-grade financial ecosystems.
The integration of XSGD on XRPL allows developers, fintechs, and financial institutions to utilise a programmable, fully regulated digital Singapore dollar for real-time cross-border payments and on-chain settlements. The XRPL’s efficient infrastructure supports these operations, enhancing the utility of XSGD in financial flows.
With cross-border commerce in Asia projected to exceed $4t by 2030, the demand for fast and trusted settlement infrastructure is rising. XSGD, issued by a Major Payment Institution licensed by the Monetary Authority of Singapore and backed 1:1 by reserves with DBS Bank and Standard Chartered, offers trust and utility. Users can mint, redeem, and integrate XSGD into decentralised applications and wallets via the StraitsX platform.
Liu Tianwei, Co-Founder and Deputy CEO at StraitsX, stated, “The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading.”
The XRPL launch is the first in a series of deployments under the StraitsX-Ripple collaboration. A second phase, set for June 2025, will focus on institutional use, enabling programmable payouts and compliance-ready integrations. This initiative aims to bridge digital assets’ speed and flexibility with the regulatory needs of businesses and financial institutions.
The expansion to XRPL strengthens StraitsX’s cross-chain capabilities, advancing its mission to enable SGD-denominated payments across diverse infrastructures. XSGD is already available on multiple platforms, including Arbitrum and Ethereum, further supporting its role in the digital economy.
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