XSGD is a Singapore Dollar stablecoin issued by Xfers via the StraitsX platform, backed by fiat reserves held in a Singapore bank. More
| Fully Diluted Valuation | $11.05M |
|---|---|
| 24H Trading Volume | $1.28M |
| 24H Low / High | $0.77 / $ 0.78 |
| Circulating Supply | 14.21M |
| Total Supply | 14.21M |
| Max Supply | ∞ |
| Categories | Stablecoins 7 more |
|---|---|
| Founder | StraitsX |
| Website | straitsx.com |
| Socials | 4 more |
| Chains | Ethereum Ecosystem 6 more |
| Explorer | Arbiscan 9 more |
| Contracts |
0x70e....eca96
6 more
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| Name | Pair | OG Score |
|---|
XSGD, the fully collateralized stablecoin pegged to the Singapore Dollar, has garnered attention in the digital assets landscape. Developed by Xfers through the StraitsX platform, XSGD stands out for its distinctive features and practical applications.
1. Blockchain Compatibility:
XSGD tokens are available on two blockchain protocols. They exist as ERC-20 tokens on the Ethereum blockchain and ZRC-2 tokens on the Zilliqa blockchain. This flexibility allows users to store XSGD in any compatible wallet for both platforms.
2. Issuer and Regulatory Framework:
XSGD is issued by Xfers, a Singapore-based payments leader licensed as a Major Payment Institution under the e-money issuance framework by the Monetary Authority of Singapore (MAS). This regulatory compliance allows Xfers to mint unlimited XSGD tokens.
3. Fiat Reserves and Transparency:
XSGD's value is fully backed by fiat reserves. Each XSGD token is backed by one Singapore dollar, held in a secure Singapore bank. This setup ensures transparency, and XSGD remains redeemable on a one-to-one basis with the Singapore Dollar on the StraitsX platform.
4. Use Cases and Accessibility:
XSGD serves as a stable store of value and unit of account within digital asset markets. Individuals can mint and redeem XSGD on the StraitsX platform. Additionally, businesses can utilize StraitsX APIs for XSGD transactions. The stablecoin is also supported on major exchanges, providing widespread accessibility.
5. StraitsX Ecosystem and Vision:
The StraitsX platform, developed by Xfers, aims to facilitate swift and secure access to digital asset markets and decentralized finance (DeFi) applications. The vision is centered on enabling digital asset access for individuals and businesses in Asia and beyond, positioning StraitsX as a key player in the fintech landscape.
In summary, XSGD stands as a multi-chain, regulatory-compliant stablecoin with a strong foundation in the StraitsX platform. Its unique features and transparent backing make it a notable player in the Southeast Asian digital assets market, promising efficiency and reliability for users and businesses alike.
XSGD maintains transparency in its fiat reserves by securely holding one Singapore dollar for each XSGD token in a reputable Singapore bank, ensuring a one-to-one basis redemption guaranteeing transparency and trustworthiness in the ecosystem.
XSGD stands out for its full collateralization with the Singapore Dollar, regulatory compliance under the Monetary Authority of Singapore (MAS), and availability on both Ethereum and Zilliqa blockchains, providing stability and accessibility in the digital assets market.
XSGD was launched by StraitsX, a Singaporean FinTech company, led by Aymeric Salley overseeing business operations and Yap Jun Hao heading the engineering team, driving innovation and growth in the digital assets space.
XSGD is backed by Xfers, a Singapore-based payments leader, which operates under the regulatory framework of the Monetary Authority of Singapore (MAS), ensuring transparency and regulatory compliance in the digital assets market.
You can buy XSGD (XSGD) on Bitstamp, Uniswap V3 (Ethereum), Uniswap V2 (Ethereum), Uniswap V3 (Polygon)Balancer V2 (Polygon) cryptocurrency exchanges.
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