StraitsX, a leading crypto infrastructure provider licensed by the Monetary Authority of Singapore, has launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL). This move addresses the rising demand for regulated, multi-chain stablecoins that facilitate real-time cross-border payments. Digital asset developers, fintech firms, and financial institutions now have a new tool for seamless international transactions, on-chain settlement, and creating programmable financial flows—all powered by XRPL, Ripple’s decentralized public blockchain.
Since its initial issuance in 2020, XSGD has become a trusted stablecoin backed 1:1 by reserves held with DBS Bank and Standard Chartered. With a total supply of over 14 million XSGD and more than 8 billion on-chain transactions, the stablecoin is now available across multiple blockchain networks, including Arbitrum, Avalanche, Ethereum, Polygon, Hedera, and Zilliqa.
Liu Tianwei, Co-Founder and Deputy of StraitsX, emphasizes the significance of this development: “We see stablecoins not just as digital representations of fiat currency but as vital infrastructure for future financial markets. Launching XSGD on the XRP Ledger expands interoperability, programmability, and access across networks designed for real-world value exchange.” This strategic move supports the growing adoption of regulated stablecoins in an anticipated boom in cross-border economic activity.
Industry experts predict that stablecoins like XSGD will play a crucial role in the expanding landscape of international commerce. For example, cross-border e-commerce in Asia is expected to exceed $4 trillion by 2030, while global cross-border payments could reach a staggering $250 trillion by 2027. Ripple’s technology, renowned for its real-time settlement capabilities, supports this growth by enabling low-cost, instant transfers without pre-funding destination accounts.
The debut of XSGD on XRPL marks the beginning of an exciting series of rollouts under StraitsX’s strategic partnership, with plans to introduce advanced institutional applications in June. These include programmable payouts, merchant settlements, and seamless compliance integrations—further cementing stablecoins as a cornerstone of modern financial infrastructure.
Ripple’s Managing Director of APAC, Fiona Murray, highlights the importance of this partnership: “The launch of XSGD on the XRP Ledger demonstrates that stablecoins and digital assets are poised to revolutionize payments. Our collaboration with StraitsX reflects our commitment to delivering regulated, enterprise-ready assets that can reshape cross-border transactions and unlock new value for financial institutions worldwide.”
