StraitsX, a prominent player in the digital finance arena, has unveiled its Singapore-dollar pegged stablecoin, XSGD, on the XRP Ledger, a bold leap aimed at fulfilling the growing appetite for regulated multi-chain stablecoins. This move, announced on May 20, 2025, positions XSGD as a versatile tool for facilitating real-time cross-border payments—a critical infrastructure in today’s fast-paced financial universe.
A New Chapter for XSGD
Since its inception in 2020, XSGD has been a staple in the realm of digital currencies, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. By launching on the XRP Ledger, StraitsX seeks to enhance XSGD’s interoperability and programmability, appealing to digital asset developers, fintech firms, and financial institutions eager to conduct seamless cross-border transactions and on-chain settlements. This follows a pattern of institutional adoption, which we detailed in our analysis of Visa and Baanx’s launch of USDC stablecoin payment cards.
Liu Tianwei, Co-Founder and Deputy CEO of StraitsX, captured the essence of this strategic expansion. “At StraitsX, we’ve always approached stablecoins not just as digital representations of fiat, but as critical infrastructure for the future of financial markets,” he told CoinDesk. “Launching XSGD on the XRP Ledger is a meaningful step toward that vision—an expansion of interoperability, programmability, and access across networks.”
The Ripple Effect
This launch underscores the increasing recognition of stablecoins like XSGD in the cross-border payments landscape. Notably, Fiona Murray, Managing Director of APAC at Ripple, emphasized the growing demand for such digital assets. “We are seeing a growing appetite for stablecoins like XSGD to support enterprise-grade use cases across payments, liquidity, and compliance-first infrastructure,” she remarked. Ripple’s collaboration with StraitsX is a testament to their shared commitment to revolutionize cross-border payments with regulated assets. As explored in our recent coverage of Ripple’s offer for stablecoin issuer Circle, the stablecoin market is witnessing significant strategic moves.
The timing of this launch is pivotal. According to a report by Infosys Finacle, global cross-border payments are anticipated to soar to $250 trillion by 2027. Furthermore, cross-border e-commerce in Asia is expected to surpass $4 trillion by 2030. These staggering figures highlight the potential for stablecoins to streamline and enhance cross-border economic activities.
An Eye on the Future
But the story doesn’t end here. StraitsX has outlined a series of upcoming initiatives under its strategic partnership with XRP Ledger. June 2025 will witness the second phase of this rollout, focusing on institutional applications such as programmable payouts, merchant settlements, and seamless compliance integrations. This phase aims to bolster enterprise operations and offer a robust framework for financial workflows.
The landscape of digital finance is evolving rapidly, with stablecoins poised to play a transformative role. As markets brace for an anticipated boom in cross-border economic activity, regulated stablecoins like XSGD appear well-positioned to capitalize on this trend. Yet, questions linger about the challenges of scalability and regulatory compliance in diverse jurisdictions.
In essence, StraitsX’s latest move is more than just an expansion—it’s a statement of intent. The integration of XSGD on the XRP Ledger marks a significant stride toward a more interconnected and efficient global financial system. Whether this trend can sustain its momentum remains to be seen, but one thing is clear: the digital currency landscape is gearing up for an exciting journey ahead.
Source
This article is based on: StraitsX Launches Its Singapore-Dollar Pegged Stablecoin, XSGD, on XRP Ledger
Further Reading
Deepen your understanding with these related articles:
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- SEC Ditches PayPal’s PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin
- Tether’s U.S.-Focused Stablecoin Could Launch Later This Year, CEO Paolo Ardoino Says
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
