The Singapore dollar-pegged stablecoin, XSGD, has been launched by StraitsX on the XRP Ledger in response to the growing demand for regulated multi-chain stablecoins in cross-border payment solutions.
Crypto infrastructure provider StraitsX introduced the Singapore dollar-pegged stablecoin XSGD on the XRP Ledger (XRPL) to meet growing demand for regulated multi-chain stablecoins that enable real-time cross-border payments.
Digital asset developers, fintech companies, and financial institutions can utilize XSGD to perform cross-border transactions, settle payments on-chain, and establish programmable financial flows.
XSGD was first issued in 2020 by StraitsX, a leading payment institution licensed by the Monetary Authority of Singapore.The stablecoin, pegged to the Singapore dollar, holds full 1:1 backing through reserves maintained with DBS Bank and Standard Chartered.
At the time of reporting, XSGD had a total supply of 14.12 million, with users recording over 8 billion on-chain transactions. The stablecoin currently operates across multiple blockchains, including Arbitrum, Avalanche, Ethereum, Polygon, Hedera, and Zilliqa.
According to Liu Tianwei, Co-Founder and Deputy CEO of StraitsX, the company consistently views stablecoins not merely as digital equivalents of fiat currency but as essential infrastructure for advancing financial markets. He emphasized that launching XSGD on the XRP Ledger marks a major step toward that vision by broadening interoperability, programmability, and accessibility across networks designed for real-world value exchange.
Analysts expect adoption of regulated stablecoins like XSGD to rise as cross-border economic activity accelerates in the coming years. For instance, a report released last year by Infosys Finacle projects that cross-border e-commerce in Asia will exceed $4 trillion by 2030, while global cross-border payment volumes will reach $250 trillion by 2027.
Initial Step Forward
The press release states that launching XSGD on the XRP Ledger marks the first phase in a series of upcoming deployments planned as part of the strategic partnership.
StraitsX plans to introduce a second phase in June, focusing on institutional use cases. This phase will include programmable payouts, merchant settlements, and streamlined compliance integrations tailored for diverse financial processes.
Fiona Murray, managing director of APAC at Ripple, stated that StraitsX’s launch of XSGD on the XRP Ledger highlights the potential of digital assets, including stablecoins, to play a significant role in the future of payments.
Murray further noted that enterprises are increasingly demanding stablecoins like XSGD to support applications in payments, liquidity management, and compliance-focused infrastructure. She added that the collaboration with StraitsX to introduce XSGD on the XRP Ledger reinforces their commitment to offering regulated digital assets capable of transforming cross-border payments and generating value for financial institutions.
