XSGD

XSGD January 2022 Attestation Report

April 4, 2022

Since its launch in October 2020 XSGD grew to over XSGD 250M in supply, making it one of the world’s largest non-USD stablecoin. While the main focus of the team since then has been a combination of regulatory compliance, user experience and cyber-security we have now decided to improve further on the transparency we offer our users as well.

Even though the public disclosure of the reserve backing XSGD tokens is not a regulatory requirement, StraitsX has appointed KK Yap & Associates, a certified public accountant in Singapore, to issue public reserve attestations of the XSGD tokens through a process in accordance with the Institute of Singapore Chartered Accountants (ISCA) standards.

Starting today, StraitsX will be issuing attestations of the reserves backing the XSGD tokens on a monthly basis. This report will outline all Singapore Dollar denominated reserve assets held in Singapore with approved financial institutions. 

Download the January 2022 report here.

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