StraitsX, a leading payments infrastructure in Southeast Asia for digital assets, has announced the listing of its Singapore dollar-pegged stablecoin, XSGD, on Bitstamp, the world’s longest-running cryptocurrency exchange. This partnership represents a significant advancement in the global adoption of XSGD, establishing a new standard for stable, efficient, and secure digital currency transactions. XSGD is fully backed 1:1 by the Singapore dollar (SGD) and reserve assets, ensuring unparalleled transparency and stability for users worldwide.
Enhancing Global Cross-Border Payments
Stablecoins like XSGD are increasingly favored for on-chain cross-border payments, offering a secure and efficient alternative to traditional financial systems. With its listing on Bitstamp, users can now effortlessly send and receive SGD-backed stablecoins across borders, addressing the need for faster and more cost-effective global transactions while simplifying the complexities associated with conventional financial methods.
XSGD’s availability on a major platform like Bitstamp is expected to enhance liquidity, reduce transaction costs, and enable faster settlement times. This advancement will promote greater financial inclusion, allowing businesses to access new markets and creating a seamless ecosystem for global commerce.
While XSGD will be available on Bitstamp globally, it will not be accessible in the U.S. and EU countries.
Statements from StraitsX and Bitstamp Leadership
“The listing of XSGD on Bitstamp is a pivotal moment in our mission to bring StraitsX’s stablecoins to the global stage,” said Jason Tay, Head of Commercial at StraitsX. “By enhancing liquidity and accessibility, we are facilitating faster, more transparent, and cost-effective on-chain cross-border payment flows. This development will transform international transactions, unlocking new opportunities for financial inclusion and global trade.”
Leonard Hoh, General Manager for APAC at Bitstamp, added, “We are excited to list XSGD, a stablecoin with immense utility across the APAC region, on our platform. As demand for reliable digital assets grows, the inclusion of XSGD enhances our liquidity and offers our global users a trusted SGD-backed asset. This supports the widespread adoption of stablecoins for cross-border payments and other financial transactions.”
Commitment to Driving Stablecoin Adoption
The listing of XSGD on Bitstamp underscores StraitsX’s dedication to advancing the digital assets and payments landscape in Southeast Asia and beyond. By merging the speed, transparency, and decentralization of digital assets with the stability of fiat-backed solutions, XSGD is well-positioned to drive mass adoption, making it a vital tool for the future of digital transactions and global cross-border payments.
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