XSGD

StraitsX Guides #5: Mint XSGD Directly from Bank Account

June 2, 2022

With the Mint feature, all StraitsX account holders – Personal or Business – can mint up to: 

  • 200,000 XSGD per transaction
  • 500,000 XSGD per year

Find out how to start minting XSGD with your StraitsX Personal or Business Account with the steps below.

Step 1: Select your funding source

To begin minting XSGD, you need to select a bank account. 

In case you have not linked your bank account to StraitsX, here is how

Step 2: Select the blockchain network you want to mint XSGD to

Next, select the type of blockchain network you would like to mint XSGD to.

Do note that StraitsX only supports ERC-20 and ZIL-2 token standards on the Ethereum and Zilliqa networks respectively. 

Step 3: Select the blockchain address you would like to mint XSGD to

Select a blockchain address to mint XSGD to. Ensure that your blockchain address or personal (non-custodial) wallet has been linked and whitelisted.

If you have not linked or whitelisted your blockchain address or personal (non-custodial) wallet, here is how.

Step 4: Authenticate your transaction

You will get a prompt to authenticate your Mint transaction. Head to your chosen authenticator app such asGoogle Authenticator or Authy to input the 6-digit code.

Step 5: Follow the on-screen instructions

Here, the Mint feature generates a separate virtual bank account that is different from the one generated by the main StraitsX site. 

Please ensure that you input this virtual bank account number into your banking app, and label it separately (i.e. StraitsX Mint vs Straits Personal Account) to reduce confusion.

Mint transactions only facilitate FAST transfers. Mint does not accept GIRO or SWIFT transfers. 

Once you have done the aforementioned steps, you can keep minting XSGD for up to 200,000 XSGD per transaction, and up to 500,000 XSGD per year!

Ready to get started?

Mint and redeem StraitsX stablecoins, manage payments, view transactions and more.