The move marks the beginning of a partnership between StraitsX and Ripple, the main contributor to XRPL. The launch aims to expand access to a regulated digital Singapore dollar across a blockchain designed for institutional-grade use cases, including real-time settlement, cross-border transactions, and programmable financial services.
XSGD is issued by a Major Payment Institution licenced by the Monetary Authority of Singapore (MAS), with full reserves held by DBS Bank and Standard Chartered. It is intended to serve as a compliant and reliable digital currency suitable for integration into decentralised applications and digital wallets.
StraitsX officials indicated that their goal is to support open and permissionless access to stablecoins on public networks, particularly in a region where cross-border commerce is projected to exceed USD 4 trillion by 2030. The inclusion of XSGD on XRPL is positioned as a response to growing institutional and developer interest in stablecoins that offer programmability, transparency, and settlement reliability.
Representatives from StraitsX stated that the XRPL integration reflects a shift in how digital money may be embedded into global financial systems. They emphasised the role of regulated stablecoins in enabling compliant, borderless financial services.
The collaboration with Ripple will continue with a second phase expected to go live in June 2025. This next stage will focus on institutional applications such as programmable disbursements, merchant settlement mechanisms, and tools for compliance integration. The roadmap aims to address the evolving needs of financial institutions and regulators by blending digital asset agility with traditional financial infrastructure standards.
Ripple representatives highlighted the strategic importance of such initiatives, suggesting that stablecoins such as XSGD could form the basis of future on-chain payment systems. They noted the relevance of building infrastructure that supports both innovation and regulatory expectations in Singapore and other markets.
XSGD is currently available across several blockchains including Ethereum, Polygon, Arbitrum, Hedera, Avalanche, and Zilliqa. The XRPL deployment is the latest in StraitsX’s efforts to establish SGD-denominated payments as part of multi-chain digital financial infrastructure that serves both retail and institutional segments.
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