StraitsX Launches XSGD and XUSD on PlatON
PlatON, a blockchain platform focused on payments, has integrated StraitsX's stablecoins XSGD and XUSD, pegged to the Singapore Dollar and U.S. Dollar respectively, into its network. This integration aims to enhance cross-border payment infrastructure for global merchants and financial institutions, providing scalable and compliant solutions. XSGD and XUSD are backed 1:1 by reserves at major banks, ensuring stability and reliability for users. By joining PlatON’s high-performance infrastructure, these stablecoins unlock diverse payment scenarios, enabling seamless transaction settlements. The partnership seeks to expand regional market support and promote broader adoption of programmable, compliant payment solutions across Southeast Asia and beyond. PlatON's infrastructure, leveraging high-frequency processing and smart contracts, bridges traditional and digital finance. StraitsX, as a major licensed payment institution in Singapore, powers a regulated and innovative payment ecosystem with its stablecoins.
FAQ
❓ What are XSGD and XUSD?
XSGD and XUSD are stablecoins issued by StraitsX, pegged to the Singapore Dollar and U.S. Dollar, respectively.
❓ How do XSGD and XUSD ensure stability?
They are backed 1:1 by reserves held in major regulated banks, providing stability and reliability for transactions.
❓ What is the significance of integrating with PlatON?
The integration allows for scalable and compliant cross-border payment solutions, enhancing financial infrastructure.