StraitsX has launched its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), marking a new phase in its collaboration with Ripple to support real-time digital payments across Asia.
The deployment brings XSGD to a blockchain designed for large-scale tokenisation, enabling real-time payments and programmable financial flows for developers, fintechs, and institutions.
XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered.
Ripple, a contributor to the XRP Ledger, is working with StraitsX to advance enterprise-grade infrastructure for cross-border value transfer.
With Asia’s cross-border commerce projected to surpass US$4 trillion by 2030, StraitsX said the move supports growing demand for trusted, compliant digital assets across interoperable ecosystems.
The launch is the first step in a broader rollout, with a second phase planned for June 2025 focused on institutional use, including programmable payouts, merchant settlements, and compliance-ready integrations.
XSGD is already live on Arbitrum, Avalanche, Ethereum, Polygon, Hedera, and Zilliqa.
Through the StraitsX platform, users can mint, redeem, and integrate the token into decentralised applications and wallets.
Attestation reports on XSGD’s reserves are available on the StraitsX website.
“The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading. As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.
Our milestone with Ripple reflects our broader vision to make trusted digital currencies central to the way value moves in tomorrow’s financial system.”
said Liu Tianwei, Co-Founder and Deputy CEO at StraitsX.
“StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments.
As institutions and developers seek to build real-world financial applications on-chain, we’re proud to collaborate with forward-looking partners like StraitsX to lay the groundwork for an open, enterprise-grade payments future in Singapore and beyond,”
said Fiona Murray, Managing Director, APAC, Ripple.
Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik
