StraitsX, a crypto infrastructure provider, has recently launched its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger. This move aims to meet growing demand for regulated multi-chain stablecoins that support real-time cross-border payments.
The launch allows digital asset developers, fintech firms, and financial institutions to use XSGD for on-chain settlement, cross-border transactions, and the creation of programmable financial flows.
Background on XSGD and XRPL
XSGD is a stablecoin backed one-to-one by Singapore dollars held in reserves. It was issued by a major payment institution licensed by the Monetary Authority of Singapore.
By placing XSGD on the XRP Ledger, StraitsX taps into a public blockchain designed for large-scale tokenisation of both crypto-native and real-world assets. The XRP Ledger’s fast transaction speeds, security, and efficiency make it well-suited for stablecoin deployment.
Regulatory Backing and Trust
The reserve backing for XSGD is held with reputable banks such as DBS Bank and Standard Chartered. This arrangement provides users with confidence that each XSGD token is fully backed by actual Singapore dollars.
Through the StraitsX platform, users can mint new XSGD tokens, redeem them for SGD, and integrate the stablecoin into decentralised applications and wallets. These features support the development of secure and interoperable payment systems.
Collaboration with Ripple
StraitsX’s announcement noted that this launch marks the first phase of a broader collaboration with Ripple. Ripple is a key contributor to the XRP Ledger and a global leader in enterprise blockchain and crypto solutions.
The joint effort between StraitsX and Ripple seeks to accelerate the adoption of regulated stablecoins in open and institutional-grade financial ecosystems.
This partnership allows XSGD to benefit from XRPL’s robust infrastructure and Ripple’s expertise in cross-border payments.
“Making XSGD available on the XRP Ledger shows where financial infrastructure is headed,” said Liu Tianwei, Co-Founder and Deputy CEO of StraitsX.
He added that regulated stablecoins like XSGD will become fundamental to borderless, real-time, and compliance-ready financial services. Liu’s comments reflect StraitsX’s broader goal of embedding trusted digital currencies within the global economy.
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Meeting Cross-Border Payment Needs
Cross-border commerce in Asia is projected to exceed $4 trillion by 2030. This rapid growth drives demand for payment systems that are fast, transparent, and compliant.
Regulated stablecoins, such as XSGD, can serve as critical elements in the next wave of payment innovations. By facilitating real-time, on-chain settlement, XSGD helps reduce reliance on slower traditional banking rails and offers transparent value exchange across markets.
Institutional Use Cases on the Horizon
The XRPL launch of XSGD is only the first step in the StraitsX-Ripple collaboration. In June 2025, StraitsX plans to roll out a second phase aimed at institutional users.
This phase will introduce features for programmable payouts, merchant settlements, and compliance-ready integrations for both first-party and third-party financial flows.
These enhancements will seek 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 highlights the role digital assets can play in payments,” said Fiona Murray, Managing Director, APAC at Ripple.
Expanding Cross-Chain Capabilities
Before its XRPL debut, XSGD was already available on other blockchains such as Arbitrum, Avalanche, Ethereum, Polygon, Hedera, and Zilliqa. Adding the XRP Ledger to this list strengthens StraitsX’s cross-chain capabilities.
This broad presence supports StraitsX’s mission of enabling Singapore dollar-denominated payments across both retail and institutional-grade infrastructures.