StraitsX has introduced its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger, aiming to fulfill the increasing demand for regulated, multi-chain stablecoins for cross-border payments. The stablecoin is fully backed by reserves with DBS Bank and Standard Chartered and is already available on various blockchains including Arbitrum, Avalanche, and Ethereum. StraitsX, recognized as a major payment institution by Singapore's Monetary Authority, began issuing XSGD in 2020 and has reported a total supply of 14.12 million, with over 8 billion on-chain transactions. The launch on the XRP Ledger is viewed as a strategic move to enhance interoperability and real-time transaction capabilities. Fiona Murray from Ripple highlighted the importance of regulated stablecoins like XSGD for supporting enterprise-grade applications in payments and compliance. Future plans include enhancing institutional applications and focusing on programmability and compliance integrations in upcoming phases.

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