#South Korea #Seoul #stablecoin #DSRV #StraitsX

DSRV and StraitsX Join Forces for Blockchain Advancement

On June 2, DSRV, a leading blockchain infrastructure company from South Korea, announced a strategic partnership with StraitsX, a digital payment platform based in Singapore that specializes in stablecoins. This collaboration marks a significant stride beyond mere technological cooperation. Both companies aim to establish a comprehensive collaboration that aligns with financial regulations across countries, facilitating real-life payment integrations and developing a global retail payment network.

The partnership focuses on jointly developing technology for the issuance and redemption of stablecoins backed by fiat currencies. Additionally, DSRV and StraitsX will work together to build a cross-border retail payment infrastructure. The two firms are committed to ensuring policy alignment with regulatory authorities in their respective countries to cultivate a practical and sustainable payment ecosystem.

StraitsX issues stablecoins that are pegged to the Singapore Dollar (SGD), US Dollar (USD), and Indonesian Rupiah (IDR), known respectively as XSGD, XUSD, and XIDR. Each of these stablecoins maintains a 1:1 peg with their corresponding fiat currencies and operates on seven blockchain networks, including Ethereum and Polygon. In 2020, StraitsX began issuing XSGD under the monetary authority of Singapore's regulatory sandbox program and subsequently received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Currently, StraitsX is actively expanding its solutions leveraging stablecoins through partnerships with Alipay+ and Grab, enhancing digital payment capabilities both locally and internationally. For instance, transactions at Grab Pay partner merchants in Singapore can be facilitated using stablecoins through major cashless payment apps in Korea, such as NAVER Pay, Kakao Pay, and Toss, with settlements taking place in XSGD.

Tem Wei Liu, CEO of StraitsX, expressed enthusiasm about the partnership, stating, "This collaboration will accelerate the development of stablecoin payment infrastructure throughout Asia and represents an important first step towards an expanded regulatory-compliant ecosystem. I am confident that our partnership with DSRV will innovate global payment solutions."

In response, Kim Ji-yoon, the CEO of DSRV, remarked, "As the importance of infrastructure compliance with regulations increases, DSRV will continue to grow as a core player in the Asian stablecoin ecosystem. We remain focused on infrastructure development with regulatory compliance at its foundation, aiming to be a pivotal point in a sustainable global payment ecosystem."

About DSRV Labs

DSRV Labs stands as a leading company in South Korea's blockchain infrastructure. The firm is currently preparing for an initial public offering (IPO) in the first half of 2026. As the only government-approved VASP validator in Korea, DSRV manages approximately 4 trillion won in digital assets and operates nodes on over 70 networks. In close cooperation with regulatory authorities, DSRV pioneers custody services tailored for institutional investors and payment solutions using stablecoins. The company is also engaged in enhancing access to digital finance and building blockchain infrastructure in East Asia and Africa through partnerships with international organizations and public institutions.

About StraitsX

StraitsX is a leading digital asset payment infrastructure in Southeast Asia, licensed by the Monetary Authority of Singapore (MAS) to ensure compliance and reliability. The company issues various stablecoins like XSGD, XUSD, and XIDR, facilitating cross-border payments and asset transfers across multiple blockchains, including Ethereum and Avalanche. So far, StraitsX has processed over 10 billion USD in on-chain transactions, driving financial innovation in the digital payments landscape.