StraitsX, a leader in digital payment infrastructure, has launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger as of May 19, 2025.
This launch signifies a pivotal move in the regulated stablecoin arena, aiming to bolster cross-border payment operations, with backing from Standard Chartered Bank.
XSGD Expansion Boosts Southeast Asian Payment Systems
The XSGD stablecoin launch by StraitsX marks a critical expansion in stablecoin infrastructure on the XRP Ledger. Aimed at enhancing global payment systems, XSGD extends its reach within Southeast Asia.
Fiona Murray from Ripple emphasized the potential for stablecoins in payment systems. StraitsX’s initiative includes cooperation with major financial entities like Standard Chartered to manage stablecoin reserves, strengthening the foundation for this rollout.
Regulated Stablecoins to Enhance XRP Liquidity
Market analysts suggest that the launch will boost XRP usage for cross-border transactions, creating fresh liquidity channels. There is enthusiasm within the financial sector for regulated stablecoins like XSGD due to their compliance features.
The collaboration positions stablecoins as key components in modern payment frameworks. Data indicates a rising trend in financial institutions integrating such compliance-ready digital assets, potentially reshaping traditional payment architectures globally.
XSGD: Pioneering Cross-Border Regulatory Compliance
Since XSGD’s 2020 introduction as the first Travel Rule-compliant stablecoin, its regulated backbone has facilitated further blockchain advancements like this launch on the XRP Ledger, aligning with industry compliance needs.
Experts from Kanalcoin highlight the advantage of StraitsX’s strategic move, underscoring past successes with regulatory-navigated digital currencies. Such frameworks may set standards for future cross-border digital transactions.
Fiona Murray, Managing Director of APAC, Ripple: “StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments. We are seeing a growing appetite for stablecoins like XSGD to support enterprise-grade use cases across payments, liquidity, and compliance-first infrastructure.”
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