XSGD stablecoin is Singapore’s first dollar-backed cryptocurrency. It can now be found on Bitstamp as well! This partnership between StraitsX and Bitstamp is a crucial step in global cross-border payments.
Let’s dive right in and explore the topic!
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Unlock Global Cross-Border Payments with XSGD Stablecoin on Bitstamp
XSGD is pegged 1:1 to the Singapore dollar (SGD). It offers a stable digital asset for international transactions. XSGD aims to make global payments faster and cheaper than traditional methods.
XSGD: Bridging Traditional Finance and Cryptocurrency
Bitstamp’s listing boosts XSGD’s reach and liquidity globally. Users can now send and receive SGD-backed stablecoins across borders more easily. This meets the growing need for better cross-border payment options.
Jason Tay, Head of Commercial at StraitsX, stated:
“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.”
Implications for Global Commerce
This partnership aims to boost financial inclusion. It helps businesses enter new markets. XSGD reduces transaction costs and speeds up settlements. This creates an easier system for global trade.
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Leonard Hoh, General Manager for APAC at Bitstamp, said:
“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.”
Availability and Future Prospects
Source: Stablecoins and the New Payments Landscape Study
XSGD is available on Bitstamp globally, except in the US and EU. It’s currently on the Avalanche C-Chain. More networks are planned. Trading pairs include XSGD:USD and XSGD:USDT.
Stablecoins are gaining popularity in the crypto market. XSGD’s launch on Bitstamp makes it a key player in digital assets and cross-border payments.
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