Singapore’s stablecoin market took a step ahead this
week as Coinbase partnered with StraitsX to launch XSGD, the primary Singapore
dollar-backed stablecoin reportedly acknowledged by the Financial Authority of Singapore
(MAS).
The rollout broadens Coinbase’s stablecoin providing
and introduces new cross-border cost choices for customers. Based on the announcement, XSGD shall be listed on Coinbase, with buying and selling set to
open at 19:00 UTC on 29 September.
Digital belongings meet tradfi in London on the fmls25
Coinbase and StraitsX Be part of Forces
The stablecoin shall be accessible on each Coinbase and
Coinbase Superior, marking the alternate’s first itemizing of an SGD-pegged
digital asset.
“Stablecoins are redefining how funds transfer throughout
borders. With XSGD dwell on Coinbase Singapore, we’re one step nearer to creating
native and cross-border funds immediate and accessible to everybody with a telephone
and pockets,” Hassan Ahmed, Nation Director of Coinbase Singapore, commented.
“Enabling straightforward, fast FX transactions brings extra of
our customers throughout the globe nearer and offers them better entry to the worldwide
monetary system- supporting our mission of accelerating financial freedom,” he defined.
🚀 $XSGD is approaching @coinbase!
Our Singapore Greenback-backed stablecoin goes to be accessible on one of many world’s most trusted cryptocurrency exchanges.
Get able to commerce, maintain, and switch XSGD on @CoinbaseSG on 29 September 2025 (19:00 UTC).
With over 8.7 billion… pic.twitter.com/yIyXcVNFAo
— StraitsX (@StraitsX) September 24, 2025
XSGD is reportedly pegged one-to-one to the Singapore greenback and
permits customers to transact in native forex with out changing into US {dollars}.
StraitsX stated the token would assist each home funds and world overseas
alternate transactions, lowering publicity to forex volatility.
You may additionally like: Equiti Hits the Courtroom as Founding Associate of Dubai Basketball Forward of EuroLeague
As a part of the rollout, XSGD can even be issued on
Base, Coinbase’s Ethereum Layer 2 community. The mixing goals to allow
decentralized FX buying and selling and liquidity swimming pools, together with an incentivized
XSGD/USDC pool on Aerodrome, Base’s central liquidity hub.
At @coinbase we’re excited to assist non-USD stablecoins to deliver nation-states onchain.
I am happy to share @coinbase shall be itemizing XSGD, Singapore’s premier native stablecoin issued by @StraitsX@CoinbaseSG customers will be capable to redeem SGD XSGD 1:1 to assist funds,…
— hassan.cbsg 🛡️🇸🇬 (@Hassan_NY) September 24, 2025
Regulatory Backing in Singapore
Each companies function beneath Singapore’s licensing regime.
Coinbase has held a Main Fee Establishment license since 2023, whereas
StraitsX obtained a number of licenses in 2024.
“By enabling
seamless, direct entry to native forex stablecoins, we’re breaking down the
USD-centric obstacles which have lengthy restricted on-chain FX markets,” added Tianwei
Liu, the CEO & Co-Founding father of StraitsX.
Coinbase described the partnership as a part of its
ongoing Asia-Pacific growth. The alternate stated extra services and products
linked to StraitsX shall be introduced within the coming months. The itemizing of XSGD provides a Singapore greenback choice to
Coinbase’s stablecoin roster.
Extra on stablecoins:
Singapore’s stablecoin market took a step ahead this
week as Coinbase partnered with StraitsX to launch XSGD, the primary Singapore
dollar-backed stablecoin reportedly acknowledged by the Financial Authority of Singapore
(MAS).
The rollout broadens Coinbase’s stablecoin providing
and introduces new cross-border cost choices for customers. Based on the announcement, XSGD shall be listed on Coinbase, with buying and selling set to
open at 19:00 UTC on 29 September.
Digital belongings meet tradfi in London on the fmls25
Coinbase and StraitsX Be part of Forces
The stablecoin shall be accessible on each Coinbase and
Coinbase Superior, marking the alternate’s first itemizing of an SGD-pegged
digital asset.
“Stablecoins are redefining how funds transfer throughout
borders. With XSGD dwell on Coinbase Singapore, we’re one step nearer to creating
native and cross-border funds immediate and accessible to everybody with a telephone
and pockets,” Hassan Ahmed, Nation Director of Coinbase Singapore, commented.
“Enabling straightforward, fast FX transactions brings extra of
our customers throughout the globe nearer and offers them better entry to the worldwide
monetary system- supporting our mission of accelerating financial freedom,” he defined.
🚀 $XSGD is approaching @coinbase!
Our Singapore Greenback-backed stablecoin goes to be accessible on one of many world’s most trusted cryptocurrency exchanges.
Get able to commerce, maintain, and switch XSGD on @CoinbaseSG on 29 September 2025 (19:00 UTC).
With over 8.7 billion… pic.twitter.com/yIyXcVNFAo
— StraitsX (@StraitsX) September 24, 2025
XSGD is reportedly pegged one-to-one to the Singapore greenback and
permits customers to transact in native forex with out changing into US {dollars}.
StraitsX stated the token would assist each home funds and world overseas
alternate transactions, lowering publicity to forex volatility.
You may additionally like: Equiti Hits the Courtroom as Founding Associate of Dubai Basketball Forward of EuroLeague
As a part of the rollout, XSGD can even be issued on
Base, Coinbase’s Ethereum Layer 2 community. The mixing goals to allow
decentralized FX buying and selling and liquidity swimming pools, together with an incentivized
XSGD/USDC pool on Aerodrome, Base’s central liquidity hub.
At @coinbase we’re excited to assist non-USD stablecoins to deliver nation-states onchain.
I am happy to share @coinbase shall be itemizing XSGD, Singapore’s premier native stablecoin issued by @StraitsX@CoinbaseSG customers will be capable to redeem SGD XSGD 1:1 to assist funds,…
— hassan.cbsg 🛡️🇸🇬 (@Hassan_NY) September 24, 2025
Regulatory Backing in Singapore
Each companies function beneath Singapore’s licensing regime.
Coinbase has held a Main Fee Establishment license since 2023, whereas
StraitsX obtained a number of licenses in 2024.
“By enabling
seamless, direct entry to native forex stablecoins, we’re breaking down the
USD-centric obstacles which have lengthy restricted on-chain FX markets,” added Tianwei
Liu, the CEO & Co-Founding father of StraitsX.
Coinbase described the partnership as a part of its
ongoing Asia-Pacific growth. The alternate stated extra services and products
linked to StraitsX shall be introduced within the coming months. The itemizing of XSGD provides a Singapore greenback choice to
Coinbase’s stablecoin roster.
Extra on stablecoins:
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