XSGD Stablecoin Expands to the XRP Ledger, Targeting Enhanced Cross-Border Payments

This move, part of a broader strategic partnership with Ripple, is set to enhance XRP's role in cross-border payments and real-world asset tokenization.

StraitsX has launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger as part of a broader strategic partnership with Ripple (NYSE:PYPL). The move is set to enhance XRP’s role in cross-border payments and real-world asset tokenization.

Regulated stablecoins have been gaining increasing traction with the integration of XSGD.launch follows a broader industry trend.

The launch of XSGD on the XRP Ledger is part of a broader strategic partnership between Ripple and StraitsX. The two companies are collaborating to integrate major Southeast Asian currencies into the XRP Ledger, expanding its capabilities for cross-border payments and real-world asset tokenization.

“At StraitsX, we’ve always approached stablecoins not just as digital representations of fiat, but as critical infrastructure for the future of financial markets,” said Liu Tianwei, Co-Founder and Deputy CEO of StraitsX.

“Launching XSGD on the XRP Ledger is a meaningful step toward that vision—an expansion of interoperability, programmability, and access across networks that were purpose-built for real-world value exchange.”

Major Payment Institution in Singapore

StraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS). The firm commenced issuing XSGD in 2020. The token is fully backed 1:1 by reserves held with DBS Bank and Standard Chartered, attesting to its high levels of trust and stability.

The deployment of XSGD on the XRP Ledger is a strategic choice. XRPL’s renowned fast, secure, and scalable blockchain infrastructure is designed for the tokenization of both crypto-native and real-world assets.

This integration will allow institutions and developers to make cross-border payments, on-chain settlements, and programmable financial flows using XSGD on the XRP Ledger.

The partnership is also significant for expanding Ripple’s footprint in Asia’s digital payments space. Southeast Asia’s cross-border trade volume is expected to exceed $4 trillion by 2030.

As institutions and fintech firms seek trusted digital currencies for seamless, real-time transactions, the demand for efficient and compliant multi-chain stablecoin solutions is surging.

“StraitsX’s launch of XSGD on the XRP Ledger highlights that digital assets, including stablecoins, can be a central part in payments. We are honored to work with visionary partners like StraitsX in establishing the foundation for the future of open, enterprise-grade payments in Singapore and beyond,” said Fiona Murray, Managing Director for Asia Pacific, Ripple.

Second Phase to Include More Use Cases

The partnership will enter its second phase in June 2025, concentrating on developing advanced, institutional-grade use cases.

StraitsX will add new functionalities, such as programmable payouts, merchant settlements, and compliance-ready integrations with leading blockchain analytics platforms. These additions will further enhance the speed and efficiency of XSGD transactions and broaden its accessibility for a wider range of users.

This collaboration aims to transfer the speed and interconnectedness of digital assets into the complex operating needs of banks and regulators. It’s part of Ripple’s broader vision to push enterprise-scale adoption of blockchain technology, especially in sectors where legacy technology has yet to deliver optimal solutions.

Ripple’s technology, often highlighted in Ripple lawsuit reports and finance innovation updates, eliminates the need for pre-funded accounts, streamlining settlement speed and reducing costs.

As Ripple navigates the current XRP lawsuit with the SEC and continues to expand its global reach, partnerships like this showcase the firm’s resilience and strategic agility.

XSGD Expands Footprint

Prior to its debut on the XRP Ledger, XSGD was already available on major blockchain ecosystems, including Ethereum (CRYPTO: ETH), Avalanche (CRYPTO: AVAX), Arbitrum, Polygon (CRYPTO:MATIC), Hedera, and Zilliqa.

With a circulating supply exceeding 14 million tokens and over 8 billion transactions recorded, XSGD has demonstrated both liquidity and utility in real-world applications.

Its expansion to XRPL signifies StraitsX’s commitment to building a more open and interconnected financial infrastructure. It also adds a regulated fiat-backed asset to the Ripple exchange environment, potentially improving liquidity and utility for XRP holders.