StraitsX Launches XSGD Stablecoin on XRP Ledger for Cross-Border Payments
StraitsX launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL) to meet the demand for regulated multi-chain stablecoins for cross-border payments. Key points include:
- XSGD supports real-time cross-border transactions and programmable financial flows.
- The stablecoin is fully backed 1:1 by reserves at DBS Bank and Standard Chartered.
- XSGD has a total supply of 14.12 million and over 8 billion on-chain transactions.
- The stablecoin is available on multiple blockchains, including Arbitrum, Avalanche, Ethereum, and more.
- Estimates suggest cross-border e-commerce in Asia could exceed $4 trillion by 2030.
- Global cross-border payments are projected to reach $250 trillion by 2027.
The launch on XRPL is part of a broader strategy, with plans for institutional applications including programmable payouts and compliance integrations starting June.
Fiona Murray from Ripple highlighted the growing interest in stablecoins like XSGD for enterprise applications in payments and compliance.