StraitsX Partners with Bitstamp to List XSGD Stablecoin
The recent collaboration between StraitsX and Bitstamp has made significant waves in the Digital assets space, particularly with the listing of XSGD, a Singapore Dollar-pegged stablecoin. This move marks a milestone in enabling seamless cross-border transactions with the SGD-backed stablecoin. Let's delve into the details of this partnership and its impact on global Payment flows.
Key Highlights of the Partnership:
- Bitstamp lists XSGD for the first time, offering users access to a stable and efficient digital currency.
- XSGD is backed 1:1 to the Singapore Dollar (SGD) and fully supported by reserve assets.
- Enhanced transparency and stability for users in global markets.
StraitsX, known for its pioneering Payments infrastructure in Southeast Asia, has taken a substantial step by listing XSGD on Bitstamp, the world's longest-running cryptocurrency Exchange. This strategic partnership not only boosts the Adoption of XSGD but also sets a new standard for secure and efficient digital Currency transactions globally.
Unlocking Global Cross-Border Payment Flows
Stablecoins like XSGD are becoming increasingly popular for cross-border payments due to their Security and efficiency advantages over traditional financial systems. With XSGD now available on Bitstamp, users can easily send and receive SGD-backed stablecoins across borders, eliminating the complexities associated with conventional payment methods. This Development caters to the growing demand for quicker and cost-effective global transactions, ultimately streamlining the cross-border payment process.
- Greater financial inclusion for users worldwide.
- Access to new markets and reduced transaction costs.
- Faster settlement times and competitive exchange rates.
In a statement, Jason Tay, Head of Commercial at StraitsX, emphasized the value of this partnership in enhancing cross-border payment flows and promoting financial inclusion globally. Similarly, Leonard Hoh, General Manager for APAC at Bitstamp, highlighted the significance of listing XSGD on the platform to meet the increasing demand for reliable digital assets in the region.
Driving Adoption of Stablecoins
The addition of XSGD to Bitstamp underlines StraitsX's commitment to advancing digital assets and payments across Southeast Asia and beyond. By combining the speed and transparency of digital assets with the stability of fiat-backed currencies, XSGD aims to facilitate mass adoption and drive Innovation in cross-border payments. This reliable and secure stablecoin offers users a trusted solution for global transactions, positioning it as a key player in the digital payments landscape.
About StraitsX:
StraitsX, licensed by the Monetary Authority of Singapore, is a leading payments infrastructure provider in Southeast Asia. The platform allows personal and business account holders to mint and redeem stablecoins, manage payments, and access payment rails for digital asset Platforms. With a focus on Innovation and reliability, StraitsX is driving the future of digital payments in the region.
About Bitstamp:
Bitstamp, a renowned Cryptocurrency exchange established in 2011, offers secure and transparent access to digital assets for millions of users worldwide. With a strong emphasis on compliance and security, Bitstamp has earned the trust of both individual and institutional clients looking to participate in the crypto Market. The platform holds multiple licenses and registrations with financial regulators globally, ensuring a safe trading environment for all users.
For more information, visit Bitstamp.
Contacts
StraitsX
Email: [email protected]
