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Singapore, Singapore, October eighth, 2024, Chainwire
- Bitstamp has listed a Singapore Greenback-pegged stablecoin, XSGD, for the primary time
- The partnership between StraitsX and Bitstamp means customers can now seamlessly ship and obtain the SGD-backed stablecoin throughout borders with confidence
StraitsX, the pioneering funds infrastructure for the digital belongings area in Southeast Asia, has at this time introduced the itemizing of XSGD, its Singapore dollar-pegged stablecoin, on Bitstamp, the world’s longest-running cryptocurrency change.
This strategic partnership marks a major step ahead in enabling the mass adoption of XSGD throughout international markets, and units a brand new benchmark for steady, environment friendly, and safe digital foreign money transactions. XSGD, backed 1:1 to the Singapore greenback (SGD) and totally backed by reserve belongings, affords unparalleled transparency and stability for customers in international markets.
Unlocking World Cross-Border Cost Flows
Stablecoins like XSGD are quickly rising as the popular answer for on-chain cross-border funds, offering a safe and environment friendly various to conventional monetary methods. With the itemizing of XSGD on Bitstamp, customers can now seamlessly ship and obtain SGD-backed stablecoins throughout borders with confidence. This improvement addresses the demand for quicker, less expensive international transactions, lowering the complexities of typical monetary methods.
By providing better monetary inclusion and opening entry to new markets, XSGD will drive digital asset adoption and speed up innovation in cross-border funds. With enhanced liquidity on a world platform like Bitstamp, XSGD customers can take pleasure in decreased transaction prices, quicker settlement occasions, and entry to aggressive change charges for cross-border funds. It will drive better monetary inclusion and empower companies to faucet into new markets, making a frictionless ecosystem for international commerce.
XSGD can be accessible through Bitstamp globally, besides in US and EU international locations.
“The itemizing of XSGD on Bitstamp is a pivotal second in our mission to convey StraitsX’s stablecoins to the worldwide stage. By bettering liquidity and accessibility, we’re enabling quicker, extra clear, environment friendly, and cost-effective on-chain cross-border fee flows. It will remodel how people and companies transact internationally, unlocking new alternatives for monetary inclusion and international commerce,” stated Jason Tay, Head of Business at StraitsX.
“We’re excited to record XSGD, a stablecoin with immense utility throughout the APAC area, to our Bitstamp platform. As demand for steady, dependable digital belongings continues to develop, the addition of XSGD enhances our platform’s liquidity and supplies our international customers with a trusted SGD-backed asset. This additional helps the widespread adoption of stablecoins for cross-border funds and different monetary transactions worldwide,” stated Leonard Hoh, Basic Supervisor for APAC at Bitstamp.
Driving Adoption of Stablecoins
The itemizing of XSGD on Bitstamp highlights StraitsX’s dedication to advancing the digital belongings and funds panorama throughout Southeast Asia and past. By combining the velocity, transparency, and decentralisation of digital belongings with the soundness of a fiat-backed asset, XSGD is positioned to drive mass adoption. This trusted and safe stablecoin affords customers a dependable answer for international cross-border funds, making it a pivotal instrument for the way forward for digital transactions.
About StraitsX
StraitsX is the pioneering funds infrastructure for the digital belongings area in Southeast Asia. StraitsX is a Main Cost Establishment licensed by the Financial Authority of Singapore and affords private and enterprise account holders to mint and redeem StraitsX stablecoins, handle funds in addition to join their accounts to digital asset platforms. Enterprise accounts also can entry B2B API-enabled fee rails for digital asset platforms.
About Bitstamp
Bitstamp is the world’s longest-standing cryptocurrency change, constantly offering protected and open entry to crypto since 2011. With a confirmed observe document and mature strategy to the trade, Bitstamp supplies a safe and clear buying and selling venue to over 5 million people and is the popular alternative for a variety of institutional purchasers looking for a trusted accomplice to take part in crypto markets. Bitstamp is a sector chief in each safety and compliance, with greater than 50 licences and registrations secured with monetary regulators throughout the globe.
Extra information is offered at https://www.bitstamp.web/
Contacts
StraitsX
[email protected]