Product Updates

We have removed XSGD daily holding and annual spending limits

January 18, 2023

We are pleased to announce the removal of XSGD Daily Holding and Annual Spending limits (previously 5,000 XSGD and 30,000 XSGD respectively) for all StraitsX Personal accounts. This comes in-lieu of our temporary exemption from holding a license under the Payment Services Act in Singapore

Under this exemption, the StraitsX Singapore Dollar, XSGD, will be treated as a “Digital Payments Token” (DPT) as opposed to “e-money” previously. Users are advised to read our Terms of Service carefully for more information.

With this latest improvement, users can now get more utility out of their XSGD funds, taking advantage of the speed, scalability, and cost-efficiency offered by multiple chains such as Polygon, Ethereum, and Zilliqa.

Removal of Daily Holding Limit

  • There is no limit to how much XSGD users can hold in their StraitsX Personal accounts in a single day. This means you can now hold greater amounts of XSGD in your account balance for your spending needs, without any excess being moved to a Temporary Holding Account.
  • If you have existing XSGD funds in your Temporary Holding Account balance, they will be swept to your main balance

Removal of Annual Spending Limit

  • There is no limit to how much XSGD users can now spend annually. This means you can connect and spend any amount from their balance with StraitsX partner merchants such as, Luno, and more. There will also be no limits to transferring XSGD from your Personal account to your blockchain wallet.

Click here to find out ways you can utilise your XSGD with our ecosystem partners.

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