Singapore stablecoin issuer StraitsX said it plans to launch its Singapore dollar stablecoin XSGD and U.S. dollar stablecoin XUSD on the Layer 1 blockchain Monad in 2027. The company said XSGD will be the first Singapore dollar stablecoin issued directly on Monad. StraitsX is a subsidiary of Singapore fintech firm Xfers and holds a Major Payment Institution license from the Monetary Authority of Singapore. The planned collaboration is aimed at using Monad’s high-performance blockchain infrastructure to support stablecoin settlement for Web3 applications. The update was cited by Techub News, with Tech in Asia referenced as the source of the report.
Singapore stablecoin issuer StraitsX said it plans to launch its Singapore dollar stablecoin XSGD and U.S. dollar stablecoin XUSD on the Layer 1 blockchain Monad in 2027.
According to the company, XSGD will be the first Singapore dollar stablecoin issued directly on Monad.
StraitsX is a subsidiary of Singapore fintech company Xfers and holds a Major Payment Institution license from the Monetary Authority of Singapore. The collaboration is intended to use Monad’s high-performance features to provide stablecoin settlement for Web3 applications.
The report was cited by Tech in Asia.
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