StraitsX Launches XSGD, a Singapore dollar-backed stablecoin, on the XRP Ledger

StraitsX, Southeast Asia's leading digital payment infrastructure provider, today announced the launch of its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), a decentralised layer-1 blockchain.

StraitsX, Southeast Asia’s leading digital payment infrastructure provider, today announced the launch of its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), a decentralised layer-1 blockchain. The deployment marks the first phase of a broader collaboration with Ripple (NYSE:R), a contributor to the XRP Ledger and a global leader in enterprise blockchain and crypto solutions. The initiative aims to accelerate the adoption of regulated stablecoins across open, interoperable, and institutional-grade financial ecosystems.

Integrating XSGD with XRPL will provide broader access to a fully regulated, programmable digital Singapore dollar on a public blockchain purpose-built for large-scale tokenisation of both crypto-native and real-world assets. Developers, fintechs, and financial institutions can now leverage XSGD for real-time cross-border payments, on-chain settlement, and programmable financial flows, supported by XRPL’s fast, secure, and efficient infrastructure.

With cross-border commerce in Asia expected to surpass US$4 trillion by 2030, demand is rising for settlement infrastructure that is fast, trusted, and programmable. Regulated stablecoins, like XSGD, are set to become essential building blocks for this next phase of payment innovation, enabling real-time, transparent, and compliant value exchange across markets.

Issued by a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) and fully backed 1:1 by reserves held with DBS Bank and Standard Chartered, XSGD offers both trust and utility. Through the StraitsX platform, users can seamlessly mint, redeem, and integrate XSGD into decentralised applications and wallets, further supporting the development of secure and interoperable payment ecosystems.

“The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading,” said Liu Tianwei, Co-Founder and Deputy CEO at StraitsX. “As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services. Our milestone with Ripple reflects our broader vision to make trusted digital currencies central to the way value moves in tomorrow’s financial system.”

The XRPL launch is the first in a planned series of deployments. In June 2025, StraitsX will activate a second phase tailored for institutional use, enabling programmable payouts, merchant settlements, and compliance-ready integrations across both first-party and third-party financial flows. These deployments aim to bridge the speed and flexibility of digital assets with the regulatory and operational needs of businesses, regulators, and financial institutions.

“StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments. As institutions and developers seek to build real-world financial applications on-chain, we’re proud to collaborate with forward-looking partners like StraitsX to lay the groundwork for an open, enterprise-grade payments future in Singapore and beyond,” said Fiona Murray, Managing Director, APAC at Ripple.

The expansion to XRPL comes amid growing global demand for regulated, multi-chain stablecoins that support real-time settlements and cross-border use cases. XSGD is already available on Arbitrum, Avalanche, Ethereum, Polygon, Hedera and Zilliqa. This latest integration strengthens StraitsX’s cross-chain capabilities and advances its mission to enable SGD-denominated payments across both retail and institutional-grade infrastructure.

For more information, all attestation reports on XSGD’s reserves are publicly available and can be accessed here: http://www.straitsx.com/xsgd.