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. In accordance with the announcement, XSGD will likely 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 will likely 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 reside on Coinbase Singapore, we’re one step nearer to creating
native and cross-border funds instantaneous and accessible to everybody with a cellphone
and pockets,” Hassan Ahmed, Nation Director of Coinbase Singapore, commented.
“Enabling simple, fast FX transactions brings extra of
our customers throughout the globe nearer and provides them higher 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 foreign money with out changing into US {dollars}.
StraitsX stated the token would assist each home funds and international overseas
alternate transactions, decreasing publicity to foreign money volatility.
You might also like: Equiti Hits the Court docket 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 convey nation-states onchain.
I am happy to share @coinbase will likely be itemizing XSGD, Singapore’s premier native stablecoin issued by @StraitsX@CoinbaseSG customers will have the ability to redeem SGD <> XSGD 1:1 to assist funds,…
— hassan.cbsg 🛡️🇸🇬 (@Hassan_NY) September 24, 2025
Regulatory Backing in Singapore
Each companies function underneath 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 foreign money 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 will likely 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. In accordance with the announcement, XSGD will likely 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 will likely 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 reside on Coinbase Singapore, we’re one step nearer to creating
native and cross-border funds instantaneous and accessible to everybody with a cellphone
and pockets,” Hassan Ahmed, Nation Director of Coinbase Singapore, commented.
“Enabling simple, fast FX transactions brings extra of
our customers throughout the globe nearer and provides them higher 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 foreign money with out changing into US {dollars}.
StraitsX stated the token would assist each home funds and international overseas
alternate transactions, decreasing publicity to foreign money volatility.
You might also like: Equiti Hits the Court docket 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 convey nation-states onchain.
I am happy to share @coinbase will likely be itemizing XSGD, Singapore’s premier native stablecoin issued by @StraitsX@CoinbaseSG customers will have the ability to redeem SGD <> XSGD 1:1 to assist funds,…
— hassan.cbsg 🛡️🇸🇬 (@Hassan_NY) September 24, 2025
Regulatory Backing in Singapore
Each companies function underneath 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 foreign money 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 will likely be introduced within the coming months. The itemizing of XSGD provides a Singapore greenback choice to
Coinbase’s stablecoin roster.
Extra on stablecoins:
