StraitsX Deploys XSGD Stablecoin on XRP Ledger to Enable Real-Time Payments

This move marks the first phase of a broader collaboration with Ripple targeting institutional-grade tokenization.

StraitsX has deployed its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger to support regulated, real-time payments. This move is part of a broader collaboration with Ripple to facilitate institutional-grade tokenization.

Announcing the launch, StraitsX highlighted its goal to introduce programmable and scalable infrastructure for optimal financial applications. The company aims to contribute to the global push for global digital finance.

XSGD Now Available on XRP Ledger for On-Chain Settlement and Cross-Border Transactions

XSGD is now live on the XRP Ledger, a blockchain said to be optimized for low-cost and fast financial settlements. This integration provides developers and financial firms with access to programmable financial flows using a fully regulated stablecoin. The infrastructure is said to support swift cross-border transactions and enables real-time on-chain settlement.

The company launched XSGD in 2020 as a Singapore dollar-backed stablecoin. It is fully backed one-to-one by DBS Bank and Standard Chartered reserves. The firm also holds a license from the Monetary Authority of Singapore as a Major Payment Institution.

As a result, the stablecoin is compliant and offers programmability across decentralized applications. Financial institutions and fintech developers can mint or redeem XSGD via the StraitsX platform. This infrastructure ensures trust and transparency while boosting the coin’s interoperability with DeFi protocols.

XRP Ledger Integration Expands Institutional Use Cases

StraitsX selected the XRP Ledger for its enterprise-grade scalability and tokenization features. The blockchain is said to support efficient and secure operations with low transaction costs, making it suitable for real-world financial use. Hence, it complements XSGD’s role in digital finance ecosystems.

This integration expands StraitsX’s multi-chain strategy as XSGD is already live on six other blockchains. These include Ethereum, Polygon, Avalanche, Hedera, Arbitrum, and Zilliqa. The XRP Ledger joins this lineup, helping institutions meet the growing demand for programmable stablecoins.

The company confirmed that a second rollout phase will begin in June 2025. It will focus on institutional applications such as programmable payouts, merchant settlements, and compliance features. These upgrades will strengthen financial tools used by both first-party and third-party operators.

StraitsX Strengthens Cross-Chain Capabilities with XRPL Rollout

The deployment on XRPL supports StraitsX’s mission to power cross-border payments with regulated digital currencies. Developers can now build and scale compliant-ready payment systems using XSGD on a public blockchain. This approach aligns with the increasing need for transparent, programmable financial solutions.

Cross-border commerce in Asia is projected to exceed $4 trillion by 2030. As a result, demand is rising for fast, reliable, and regulated settlement infrastructure. StraitsX aims to address this gap by offering XSGD across interoperable blockchains.

XSGD has already processed over 8 billion on-chain transactions. More than 14 million tokens are circulating, reinforcing the coin’s growing adoption. The company also issues XUSD and continues expanding fiat-backed stablecoin infrastructure across the region.