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StraitsX, a digital asset payments infrastructure provider in Southeast Asia, announced that crypto exchange Bitstamp has added XSGD to its platform.
XSGD is a stablecoin pegged to the Singapore dollar, issued by StraitsX.
This listing increases the accessibility of XSGD for international transactions, potentially leading to faster settlement times and lower costs for users.
XSGD is initially available on Bitstamp via the Avalanche C-Chain, with plans to support additional networks soon. Trading pairs include XSGD:USD and XSGD:USDT.
In July this year, StraitsX secured two licenses from the Monetary Authority of Singapore to issue stablecoins and facilitate crypto payments.
Jason Tay
“The listing of XSGD on Bitstamp is a pivotal moment in our mission to bring StraitsX’s stablecoins to the global stage. By improving liquidity and accessibility, we are enabling faster, more transparent, efficient, and cost-effective on-chain cross-border payment flows.
This will transform how individuals and businesses transact internationally, unlocking new opportunities for financial inclusion and global trade,”
said Jason Tay, Head of Commercial at StraitsX.
Leonard Hoh
“As demand for stable, reliable digital assets continues to grow, the addition of XSGD enhances our platform’s liquidity and provides our global users with a trusted SGD-backed asset.
This further supports the widespread adoption of stablecoins for cross-border payments and other financial transactions worldwide,”
said Leonard Hoh, General Manager for APAC at Bitstamp.