StraitsX Launches XSGD and XUSD Stablecoins on the PlatON Network

StraitsX Launches New Stablecoins on PlatON Network



On June 4, 2025, the blockchain platform PlatON made headlines by integrating StraitsX's stablecoins, XSGD (Singapore Dollar-pegged) and XUSD (U.S. Dollar-pegged), into its network. This pivotal move aims to streamline cross-border transactions for global merchants, financial institutions, and digital asset developers. By enabling the use of stablecoins for payments, the initiative fosters a more efficient and compliant payment infrastructure, underscoring the growing importance of cryptocurrencies in the digital economy.

StraitsX, launched in 2020, has established a solid foundation with its XSGD stablecoin, which is fully backed by reserves held in reputable banks like DBS and Standard Chartered. Similarly, XUSD is secured by reserves in regulated financial institutions in the U.S. With these stablecoins now operational on the PlatON Network, users and enterprises can realize stable and programmable transfers of value, unlocking various payment possibilities.

The integration also enhances the capabilities of StraitsX, which has facilitated over $10 billion in on-chain stablecoin transactions so far. This means users can transfer value efficiently and securely across different networks and borders—an essential feature for businesses operating in today's interconnected world.

PlatON is driven by the LatticeX Foundation, and aims to create a 'payment highway' that bridges traditional finance with the burgeoning digital economy. Through various payment solutions such as MINT, RemiNet, and a stablecoin payment gateway, PlatON is all set to evolve stablecoins from mere transfer tools into an advanced clearing and settlement infrastructure.

Looking forward, further enhancements in their partnership are planned, designed to address institutional-grade use cases. Future initiatives may explore functionalities like programmable payouts, merchant settlements, and seamless compliance integrations, particularly with licensed partners such as Allinpayintl. These developments will furnish XSGD and XUSD with robust underlying technology, optimizing processes from issuance to cross-border payments available for local consumption.

The collaboration will connect merchants in pivotal financial hubs like Singapore and Hong Kong, facilitating secure, compliant transactions with stablecoins. Furthermore, it sets the stage for expanding these solutions throughout Southeast Asia and beyond, as PlatON works relentlessly towards improving access to cryptocurrency and digital asset infrastructure.

In conclusion, the integration of XSGD and XUSD into the PlatON network marks a substantial progress for both companies. By effectively utilizing stablecoins, they are progressing towards a more open, interoperable financial apparatus that supports the real-world use of digital assets. As they continue to build on this platform, the implications for global finance and commerce are bound to grow immensely, enhancing opportunities for all players involved in the expanding landscape of digital payments.

Topics Consumer Technology)

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