StraitsX Lists XSGD Stablecoin on Bitstamp, Unlocking Global Cross-Border Payment Flows

Stablecoins like XSGD are rapidly emerging as the preferred solution for on-chain cross-border payments, providing a secure and efficient alternative to traditional financial systems.

Cryptocurrency exchange Bitstamp has listed XSGD, the Singapore dollar-pegged stablecoin offered by StraitsX, the pioneering payments infrastructure for the digital assets space in Southeast Asia.

The listing will enable users to send and receive SGD-backed stablecoins across borders. It comes amid rising demand for stablecoins as a preferred solution for on-chain cross-border payments, offering a secure and efficient alternative to traditional financial systems.

XSGD is pegged 1:1 to the Singapore dollar (SGD) and fully backed by reserve assets, offering unparalleled transparency and stability for users in global markets.

With the listing of XSGD on Bitstamp, users can now send and receive SGD-backed stablecoins across borders with confidence. This development will unlock new possibilities for cross-border payments, reducing the complexities of conventional financial systems.

XSGD will be available via Bitstamp globally, except in US and EU countries.

“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.

“We are excited to list XSGD, a stablecoin with immense utility across the APAC region, to our Bitstamp platform. 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.

The listing of XSGD on Bitstamp highlights StraitsX’s commitment to advancing the digital assets and payments landscape across Southeast Asia and beyond. By combining the speed, transparency, and decentralisation of digital assets with the stability of a fiat-backed asset, XSGD is positioned to drive mass adoption. This trusted and secure stablecoin offers users a reliable solution for global cross-border payments, making it a pivotal tool for the future of digital transactions.

About StraitsX

StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia. StraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore and offers personal and business account holders to mint and redeem StraitsX stablecoins, manage payments as well as connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payment rails for digital asset platforms.

About Bitstamp

Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously providing safe and open access to crypto since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent trading venue to over five million individuals and is the preferred choice for a range of institutional clients seeking a trusted partner to participate in crypto markets. Bitstamp is a sector leader in both security and compliance, with more than 50 licences and registrations secured with financial regulators across the globe.

More info is available at https://www.bitstamp.net/