StraitsX launches SGD and USD-pegged stablecoins XSGD and XUSD on PlatON

Odaily News XSGD and XUSD, stablecoins pegged to the Singapore dollar and the US dollar issued by StraitsX, have been integrated into the PlatON network. XSGD is a stablecoin pegged to the Singapore dollar issued by StraitsX in 2020, fully backed by reserves held by DBS Bank and Standard Chartered Bank at a 1:1 ratio. XUSD is its US dollar counterpart, also backed by US dollar reserves held by regulated financial institutions at a 1:1 ratio. (The Block)