Singapore, Singapore, October eighth, 2024, Chainwire
- Bitstamp has listed a Singapore Greenback-pegged stablecoin, XSGD, for the primary time
- The partnership between StraitsX and Bitstamp means customers can now seamlessly ship and obtain the SGD-backed stablecoin throughout borders with confidence
StraitsX, the pioneering funds infrastructure for the digital property house in Southeast Asia, has at present introduced the itemizing of XSGD, its Singapore dollar-pegged stablecoin, on Bitstamp, the world’s longest-running cryptocurrency change.
This strategic partnership marks a big step ahead in enabling the mass adoption of XSGD throughout international markets, and units a brand new benchmark for secure, environment friendly, and safe digital foreign money transactions. XSGD, backed 1:1 to the Singapore greenback (SGD) and absolutely backed by reserve property, affords unparalleled transparency and stability for customers in international markets.
Unlocking International Cross-Border Cost Flows
Stablecoins like XSGD are quickly rising as the popular answer for on-chain cross-border funds, offering a safe and environment friendly various to conventional monetary techniques. With the itemizing of XSGD on Bitstamp, customers can now seamlessly ship and obtain SGD-backed stablecoins throughout borders with confidence. This improvement addresses the demand for quicker, cheaper international transactions, lowering the complexities of standard monetary techniques.
By providing higher monetary inclusion and opening entry to new markets, XSGD will drive digital asset adoption and speed up innovation in cross-border funds. With enhanced liquidity on a world platform like Bitstamp, XSGD customers can take pleasure in decreased transaction prices, quicker settlement occasions, and entry to aggressive change charges for cross-border funds. It will drive higher monetary inclusion and empower companies to faucet into new markets, making a frictionless ecosystem for international commerce.
XSGD can be accessible by way of Bitstamp globally, besides in US and EU international locations.
“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,” stated Jason Tay, Head of Industrial 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,” stated Leonard Hoh, Common Supervisor for APAC at Bitstamp.
Driving Adoption of Stablecoins
The itemizing of XSGD on Bitstamp highlights StraitsX’s dedication to advancing the digital property and funds panorama throughout Southeast Asia and past. By combining the pace, transparency, and decentralisation of digital property with the steadiness of a fiat-backed asset, XSGD is positioned to drive mass adoption. This trusted and safe stablecoin affords customers a dependable answer for international cross-border funds, making it a pivotal software for the way forward for digital transactions.
About StraitsX
StraitsX is the pioneering funds infrastructure for the digital property house in Southeast Asia. StraitsX is a Main Cost Establishment licensed by the Financial Authority of Singapore and affords private and enterprise account holders to mint and redeem StraitsX stablecoins, handle funds in addition to join their accounts to digital asset platforms. Enterprise accounts may also entry B2B API-enabled cost rails for digital asset platforms.
About Bitstamp
Bitstamp is the world’s longest-standing cryptocurrency change, repeatedly offering secure and open entry to crypto since 2011. With a confirmed observe document and mature strategy to the trade, Bitstamp gives a safe and clear buying and selling venue to over 5 million people and is the popular alternative for a variety of institutional shoppers searching for a trusted associate to take part in crypto markets. Bitstamp is a sector chief in each safety and compliance, with greater than 50 licences and registrations secured with monetary regulators throughout the globe.
Extra information is on the market at https://www.bitstamp.internet/
Contacts
StraitsX
[email protected]