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StraitsX issues Singapore Dollar stablecoin XSGD on the XRP Ledger.
Gate News bot message, encryption infrastructure provider StraitsX announces the issuance of Singapore dollar stablecoin XSGD on the XRP Ledger. The stablecoin is fully backed by reserves from DBS Bank and Standard Chartered, aiming to meet the demand for regulated multi-chain stablecoins in the cross-border payment sector.
According to CoinDesk, StraitsX plans to launch a programmatic payment and merchant settlement solution aimed at institutions in June, for corporate payments and compliance processes.
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