StraitsX deploys Singapore dollar stablecoin XSGD to XRP Ledger

Odaily News StraitsX, a Singapore payment infrastructure provider, announced that its Singapore dollar stablecoin XSGD has been officially launched on XRP Ledger (XRPL). XSGD is issued by StraitsX and is 1:1 backed by Singapore dollars, with reserves held by DBS Bank and Standard Chartered Bank. XSGD is currently circulating on multiple blockchains including Ethereum, Polygon, Arbitrum, Avalanche, Hedera and Zilliqa, and XRPL is the seventh blockchain it supports. (Financefeeds)