We're delighted to share that StraitsX has processed over SGD 2 billion in digital asset-related transactions in 2021 alone. In our mission to accelerate access to digital assets in Southeast Asia, we are excited to unveil a new look for the StraitsX platform, featuring a new logo for StraitsX Singapore Dollar (XSGD) and a brand new refreshed user interface.
Xfers, a Southeast Asia based payments leader holding a Major Payment Institution (MPI) license for e-money issuance, together with its partner, SEBA Bank, a FINMA licensed Swiss Bank providing a seamless, secure, and easy-to-use bridge between digital and traditional assets, today announced that they have been named among the 15 finalists for the Global Central Bank Digital Currency (CBDC) Challe
Based in Singapore and Canada, COINUT (COIN Ultimate Trading) is a cryptocurrency exchange platform that aims to make buying, selling, and trading cryptocurrencies easier, faster, cheaper, & most secure for everyone. COINUT users can now receive an equivalent amount of XSGD when they deposit Singapore dollars via bank transfer into their COINUT account, under the XSGD Balance tab.
Polygon (Previously known as the Matic network) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Also known as a layer-2 scaling platform, the Polygon chain exists on top of the Ethereum blockchain. The Polygon chain boasts lower gas fees and faster speeds in comparison to the Ethereum blockchain. Users can transfer their ERC-20 token (now known as
1inch allows users to check prices across multiple decentralised exchanges including Uniswap and DFX Finance for the best rate for a swap. Users can find the best trading paths across multiple markets for swaps and compare routes based on returns and gas fees.
ZilSwap is a fully on-chain, decentralised exchange running on the Zilliqa blockchain.XSGD users can connect their wallet to ZilSwap to swap XSGD (ZRC-2) for ZIL, gZIL, ZWAP, and many other assets.
DFX is a decentralized foreign exchange protocol optimized for trading fiat-backed foreign stablecoins.XSGD users can connect their wallet to swap XSGD (ERC-20) for 3 other fiat-backed stablecoins, CADC, USDC and EURS at competitive rates.
Uniswap is a decentralized finance protocol on the Ethereum blockchain that is used to exchange cryptocurrencies. XSGD users can connect their wallet to Uniswap to swap XSGD (ERC-20) for ETH, AAVE, USDC and many other assets. Users can also become liquidity providers on Uniswap, where they can earn fees by providing liquidity into XSGD pools.
From March 2021 to May 2021, NUS FinTech Society embarked on an industry project with Xfers' StraitsX team. With the rise in popularity of cryptocurrency usage, there is a growing need for solutions to identify suspicious transactions and the need to educate the general public on the risks of digital assets.
As we say goodbye to the first half of 2021, the StraitsX team is excited to share that 1 billion XSGD (that's nine zeros!) has been transacted on-chain. To put that further into perspective, XSGD surpassed it's first 100 million XSGD just three months ago, in March of 2021.
Xfers has submitted a governance proposal on Aave's community forum for XSGD to be supported on the Aave lending protocol. Aave is a decentralised non-custodial lending protocol where users can participate as depositors or borrowers.
Xfers has successfully concluded a pilot test to demonstrate how the XSGD stablecoin can enable the transfer of event risks via Zilliqa blockchain-based smart contracts.
Since we introduced our digital Singapore dollar, XSGD, in October 2020, we have been working hard with partners to enable more XSGD support by different applications.
Since we launched XSGD in October 2020, XSGD has grown to a supply of over 40M with over 300M transactions completed on-chain, becoming the #1 stablecoin in Southeast Asia. We would like to express our heartfelt appreciation to all our users for making this possible.
We are excited to announce the public release of XSGD, the world’s first Travel Rule¹ compliant stablecoin, backed 1:1 with the Singapore Dollar (SGD)!