Article Summary, Automatically Generated By AI
Summary of XSGD
Key Points
- XSGD is a fully collateralized Singapore Dollar stablecoin powered by open-source blockchain protocols.
- XSGD is available on Ethereum (ERC-20) and Zilliqa (ZRC-2) blockchains.
- XSGD is issued by Xfers via the StraitsX platform, a licensed Major Payment Institution in Singapore.
- XSGD is backed by one Singapore dollar held in a Singapore bank and is redeemable on the StraitsX platform.
Use Cases
- Stable store of value and unit of account in digital assets markets.
- Make near-instant, low-cost
About XSGD: A Stablecoin Pegged to the Singapore Dollar
Introducing XSGD: A Stablecoin Pegged to the Singapore Dollar
XSGD is a fully collateralized Singapore Dollar stablecoin, underpinned by the robust security and transparency of open-source blockchain protocols.
Which Blockchains Are Compatible with XSGD?
XSGD tokens boast a unique dual-chain presence, existing concurrently on two distinct blockchain protocols. On the Ethereum blockchain, XSGD is represented as ERC-20 tokens, seamlessly compatible with any ERC-20 enabled wallet. Meanwhile, on the Zilliqa blockchain, XSGD (ZRC-2) tokens thrive, conveniently storable with any ZRC-2 compatible wallet.
Who is the Issuer of XSGD?
XSGD is proudly issued by Xfers, a renowned Singapore-based payments leader, via the esteemed StraitsX platform. As a licensed Major Payment Institution in Singapore, duly regulated by the Monetary Authority of Singapore (MAS), Xfers is empowered to mint unlimited quantities of XSGD tokens under the e-money issuance framework. Notably, each XSGD token is fully backed by one Singapore dollar, securely held and safeguarded in a reputable Singapore bank, ensuring that it remains perpetually redeemable on the StraitsX platform.
Unlocking the Potential of XSGD: A Comprehensive Guide to Utilization
Leverage XSGD as a reliable store of value and a standardized unit of account, pegged to the Singapore Dollar, within the realm of digital assets markets.
Acquiring XSGD: A Comprehensive Guide
On the StraitsX platform, individuals have the flexibility to mint and redeem XSGD, which can be seamlessly spent with StraitsX partners and businesses. Furthermore, businesses can leverage StraitsX APIs to integrate XSGD support. Additionally, XSGD is listed on prominent exchanges. For a comprehensive list of supported platforms and applications, please visit straitsx.com.
Transcend Borders: Send Singapore Dollars Seamlessly via Blockchain
Execute rapid, low-cost global transfers of XSGD 24/7, with utmost trust and security, eliminating the need for intermediaries and third-party clearing agents.
Seamless Interoperability Across Diverse Digital Asset Markets
Seamlessly transfer, spend, and receive XSGD with StraitsX partners across a multitude of blockchains and a diverse array of supported applications.
Empowered by Revolutionary DeFi Protocols
Unlock the potential of XSGD in Decentralised Finance (DeFi) applications, where you can seamlessly swap or provide liquidity, paving the way for a revolutionary future in finance.