XSGD, Singapore's first dollar-based stable coin, starts on Bitstamp to enable cross-border payments
XSGD, Singapore's first dollar-based stable coin, starts on Bitstamp to enable cross-border payments
Singapore, Singapore, October 8, 2024, Chainwire
- Bitstamp has listed a stable coin XSGD coupled to the Singapore dollar for the first time
- The partnership between Straitsx and Bitstamp means that users can now send and receive the SGD-based stablecoin seamlessly and safely across borders
Straitsx The groundbreaking payment infrastructure for the area of digital asset in Southeast Asia, today has the listing of XSGD, which has been listed to the Singapur dollar today coupled stablecoin, to Bitstamp, the oldest cryptocurrency exchange in the world.
This strategic partnership represents a significant step forward to enable the mass introduction of XSGD in the global markets, and sets a new benchmark for stable, efficient and secure digital currency transactions. XSGD is covered in a ratio of $ 1: 1 to the Singapore dollar (SGD) and fully covered by currency reserves and offers users in the global markets of unprecedented transparency and stability.
development of global cross -border payment flows
StableCoins like XSGD quickly develop into the preferred solution for cross-border payments in the chain and offer a secure and efficient alternative to traditional financial systems. With the listing of XSGD on BISTAMP, users can now send and receive SGD-based stable coins seamlessly and safely across borders. This development corresponds to the demand for faster and cheaper global transactions and reduces the complexity of conventional financial systems.
By providing greater financial inclusion and opening access to new markets, XSGD will promote acceptance of digital assets and accelerate innovations in cross-border payment transactions. With improved liquidity on a global platform such as BITSTAMP, XSGD users can benefit from lower transaction costs, faster processing times and access to competitive exchange courses for cross-border payments. This will drive a stronger financial inclusion and enable companies to open up new markets and thus create a smooth ecosystem for global trade.
XSGD will be available worldwide via BISTAMP, except in the USA and EU countries.
"The listing from XSGD on Bitstamp is a crucial moment in our mission to bring the StableCoins from Straitsx to the global stage. By improving liquidity and accessibility, we enable faster, more transparent, more efficient and cost -effective borderline power flows in the chain. This will change the way individuals and companies handle and open new opportunities for financial inclusion and global trade, ”said Jason Tay, Head of Commercial at Straitsx.
"We are pleased to list a stable coin with immense benefits in the entire APAC region to listen to our BISTAMP platform. Since the demand for stable, reliable digital assets continues to grow, the addition of XSGD increases the liquidity of our platform and offers our global users a trustworthy asset. The widespread introduction of stablecoins for cross -border payments and other financial transactions worldwide, ”said Leonard Hoh, General Manager for APAC at BISTAMP.
promotion of the introduction of stablecoins
The listing from XSGD on Bitstamp underlines the commitment of Straitsx for the further development of digital assets and payment landscape in Southeast Asia and beyond. By combining the speed, transparency and decentralization of digital assets with the stability of a Fiat-supported asset, XSGD is able to advance the mass acceptance. This trustworthy and safe stablecoin offers users a reliable solution for global cross -border payments and is therefore a crucial tool for the future of digital transactions.
About Straitsx
Straitsx is the groundbreaking payment infrastructure for the area of digital assets in Southeast Asia. Straitsx is a large payment institute licensed by the Monetary Authority of Singapore and offers private and business account doors the opportunity to shape and redeem Straitsx stable coins, manage payments and connect their accounts with platforms for digital assets. Business accounts can also access B2B-API-capable payment rails for digital asset platforms.
About Bitstamp
BISTAMP is the oldest cryptocurrency exchange in the world and has been continuously available since 2011. With a proven track record and a sophisticated approach in the industry, BITSTAMP offers over five million individuals a safe and transparent trading center and is the preferred choice for a number of institutional customers who are looking for a trustworthy partner for participating in cryptoma markets. BISTAMP is industry leader in the areas of security and compliance and has more than 50 licenses and registrations with financial supervisory authorities around the world.
For more information can be found at https://www.bitstamp.net/
contacts
StraTSX
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Source: Coinlist.me
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