Singapore-based payment infrastructure platform StraitsX has gone live with its XSGD stablecoin on the XRP ledger. This integration is the first phase of a collaboration between StraitsX and Ripple.
The listing now gives companies that use Ripple’s blockchain access to a new stablecoin for cross-border payment functionality. By June 2025, StraitsX plans to activate its second phase, which will enable programmable payouts, merchant settlements, and compliance-ready integrations.
As per a press release from Ripple, cross-border commerce in Asia is expected to go beyond $4 trillion per year by 2030, creating an increased demand for payment settlement infrastructure that is speedy and reputable.
“The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading,” said StraitsX co-founder Liu Tianwei.
“As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services. Our milestone with Ripple reflects our broader vision to make trusted digital currencies central to the way value moves in tomorrow’s financial system.”
The XSGD stablecoin is backed on a 1:1 basis by reserves held in DBS Bank and Standard Chartered. It is also available on the following blockchain platforms: Ethereum, Avalanche, Polygon, Hedera, Arbitum, and Ziliqa.