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- StraitsX adds XSGD to XRP Ledger, expanding regulated stablecoin use across Asia’s real-time networks.
- Integration boosts transparent, fast payments with XSGD backed by reserves in DBS and Standard Chartered.
StraitsX made a fresh leap in expanding its digital currency scope by introducing Singapore dollar-backed stablecoin, XSGD, to the XRP Ledger. The move is an extension of an active partnership with Ripple and is designed to enhance real-time digital payment networks in Asia. The launch brings additional choices for regulating digital currency use on public blockchains.
XSGD is now live on the XRP Ledger. https://t.co/BjjTBRed3b@StraitsX brings its regulated, SGD-backed stablecoin to the blockchain built for real-time payments and tokenization. 🇸🇬
From payments to tokenized assets, learn how XSGD unlocks the movement of value across Asia. 🌏
— RippleX (@RippleXDev) May 19, 2025
XSGD is 1:1 pegged to Singapore’s dollar and is issued by an institution that is licensed under Singapore’s Monetary Authority. The funds are kept in reserve in two of Singapore’s main banks, DBS and Standard Chartered, giving users high assurance. With this rollout, users get to benefit from quicker, more transparent payment systems seasoned in accordancy to local financial regulation.
The XRP Ledger, also known as XRPL, is meant to support high-volume tokenization and financial flows. The inclusion of XSGD into XRPL gives developers, fintech companies, and financial institutions additional tools to create real-time payment apps.
Growing Importance of Regulated Stablecoins in Asia
As Asia’s cross-border trade is set to surpass US$4 trillion by 2030, there has been a rising demand for programmable and regulated financial instruments. StraitsX’s action places one of these regulated stablecoins into an environment where institutions can settle in real time, bypassing intricate delay-induced settlements.
Fiona Murray, Managing Director for APAC at Ripple, stated:
StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments. We’re proud to collaborate with forward-looking partners like StraitsX to lay the groundwork for an open, enterprise-grade payments future in Singapore and beyond,
StraitsX users are already able to mint and redeem XSGD using its current platform, which also enables integration into decentralized apps and wallets. All of these capabilities are designed to facilitate quicker adoption of accredited stablecoins into retail and institutional systems.
Institutional Rollout Planned for June 2025
The integration of XRP Ledger is merely the beginning. StraitsX aims to launch a second phase of rollout in June 2025, targeting business and institutional use. The next phase of development will add programmable payout tools, merchant transactions, and integrations specific to compliance requirements. It’s designed to achieve both speed and financial regulators’ oversight requirements.
“The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading,” said Liu Tianwei, Co-Founder and Deputy CEO at StraitsX.
As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.
XSGD is presently running on multiple chains such as Arbitrum, Ethereum, Polygon, Avalanche, Zilliqa, and Hedera. The addition of XRPL is even more robust in terms of cross-chain support and extends support to more payment infrastructures in Singapore and Asia.
