StraitsX has announced the integration of its Singapore Dollar-pegged stablecoin, XSGD, and US Dollar-pegged stablecoin, XUSD, onto the PlatON Network. This strategic move aims to enhance cross-border stablecoin clearing and settlement infrastructure, benefiting global merchants, financial institutions, and digital asset developers. Both stablecoins are fully backed by reserves held with regulated financial institutions, ensuring a 1:1 backing.
The integration allows users and enterprises to leverage PlatON’s high-performance infrastructure for stable and programmable value transfers. StraitsX has already facilitated over $10b in on-chain stablecoin transactions, and this collaboration with PlatON is set to extend its reach further. PlatON, driven by the LatticeX Foundation, is developing a compliant, stable, and open multilateral clearing network, aiming to transform stablecoins into comprehensive clearing and settlement infrastructure.
The partnership will also explore future enhancements, including programmable payouts and merchant settlements, with seamless compliance integrations with licenced partners like Allinpayintl. This collaboration equips XSGD and XUSD with robust infrastructure, enabling secure and compliant processing of stablecoin payments in financial hubs such as Singapore and Hong Kong.
Looking ahead, PlatON and StraitsX plan to expand their support for regional markets, promoting the adoption of programmable, compliant payment infrastructure across Southeast Asia and beyond. This initiative is part of PlatON’s broader vision to build an open, interoperable financial network that powers digital assets in real-world applications.
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