StraitsX Launches XSGD Stablecoin on XRP Ledger to Boost Cross-Border Payments

StraitsX, a regulated crypto infrastructure provider licensed by the Monetary Authority of Singapore, has launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL). This move aims to meet the rising demand for regulated multi-chain stablecoins that support fast, low-cost cross-border payments.

XSGD is backed 1:1 by reserves held at DBS Bank and Standard Chartered, ensuring transparency and security. Since its launch in 2020, XSGD has reached a total supply of 14.12 million with over 8 billion on-chain transactions. Already available on Ethereum, Polygon, Arbitrum, Avalanche, Hedera, and Zilliqa, its expansion to XRPL further enhances interoperability and utility across blockchain networks.

Built on the decentralized XRP Ledger developed by Ripple, the integration allows financial institutions, fintechs, and developers to leverage XSGD for real-time settlement, on-chain transactions, and programmable financial flows. Liu Tianwei, Co-Founder and Deputy of StraitsX, said that stablecoins like XSGD represent more than digital fiat—they serve as foundational infrastructure for next-gen financial markets.

Global demand for cross-border payments is surging, with projections showing the market could reach $250 trillion by 2027. In Asia alone, cross-border e-commerce is expected to exceed $4 trillion by 2030. Regulated stablecoins like XSGD are well-positioned to power this growth, enabling efficient and compliant international transactions.

The launch on XRPL is part of a broader strategic roadmap. In June, StraitsX plans to roll out phase two, targeting institutional use cases such as programmable payouts, merchant settlements, and regulatory compliance solutions.

Fiona Murray, APAC Managing Director at Ripple, emphasized that stablecoins like XSGD are becoming essential tools for enterprise-grade payment solutions and liquidity infrastructure.