This year has undoubtedly been an exceptional year for StraitsX.
Since the launch of the StraitsX Singapore Dollar (XSGD) in October 2020, XSGD has experienced tremendous success. According to the Coinmarketcap list of asset-backed stablecoins, XSGD has now become the largest non-USD denominated stablecoin in the world.
In November 2021, we unveiled our second stablecoin, the StraitsX Indonesia Rupiah (XIDR) and the StraitsX Indonesia platform. XIDR is available on the Ethereum blockchain as an ERC-20 token and on the Zilliqa blockchain as a ZRC-2 token.
XIDR aims to be the most cost-effective Indonesian Rupiah stablecoin, with free bank transfers in & out, and transfer out fees (network fees for ERC-20 and ZRC-2) capped at 50,000 XIDR.
XIDR is available on Uniswap, Zilswap, DFX Finance and HaloDAO.
For Indonesian residents, get XIDR here.
As the underlying payment infrastructure and fiat on-ramp for many popular digital asset exchanges in Singapore, the StraitsX platform has processed over 2.5B SGD transactions in 2021 as of December.
As of December 2021, over 2.3B XSGD has also been transacted on the Ethereum and Zilliqa blockchains.
In October, we unveiled our brand new standalone platform and redesigned logos for StraitsX & XSGD.
We have welcomed over 10 new partners, including CEX.IO, Coinut, Independent Reserve, Indodax, Xanpool, Zipmex, Liquid, Request, Cerchia, DFX Finance and HaloDAO.
Interested in supporting XSGD/XIDR or integrating with us? Contact us now.
Launched by the Monetary Authority of Singapore and in partnership with the International Monetary Fund, World Bank, Asian Development Bank, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and the Organisation for Economic Co-operation and Development (OECD), the Global CBDC Challenge calls for FinTech companies, financial institutions and solution providers around the world to submit innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion. StraitsX & SEBA bank were selected amongst 15 finalists from over 300 applications representing over 50 countries.
Watch our submission here:
With the StraitsX Mint feature, users can convert SGD from their bank account to XSGD sent straight to their blockchain address. After the one time setup, users can mint up to 200,000 XSGD per transaction. XSGD and SGD will always be converted at a one for one rate.
Login to your StraitsX account to set up your Mint feature.
With the StraitsX OTC desk, individuals and institutions can make block trades of XSGD with XIDR, USDC, BUSD and USDP, starting from 50,000 USD. StraitsX OTC strives to provide the most competitive rates.
Request for a quote now.
We would like to take this opportunity to thank all our partners and clients for a fantastic 2021 and we look forward to bringing you more in 2022.