The new strategic partnership between StraitsX and Standard Chartered aims to enhance financial infrastructure for secure, transparent, and scalable digital payment solutions.

Singapore, 18 February 2025 – StraitsX, a leading digital payment infrastructure provider and stablecoin issuer licensed in Singapore, today announced its strategic partnership with Standard Chartered, a global bank connecting the world’s most dynamic markets, to enhance the reserve management of StraitsX’s stablecoins. Through this collaboration, Standard Chartered will serve as one of StraitsX’s trusted banking partners, providing robust cash management and custody services for the reserve assets backing StraitsX’s U.S. Dollar and Singapore Dollar stablecoins, XUSD and XSGD. This partnership also aims to strengthen essential payment rails, facilitating seamless and secure access to XUSD and XSGD for businesses and individuals.

StraitsX’s XUSD and XSGD are fully-backed and trusted stablecoins issued in compliance with the Monetary Authority of Singapore (MAS)’s upcoming stablecoin regulatory framework. This milestone reinforces StraitsX’s mission to enhance cross-border payments by bridging the stability and trust of traditional banking with the innovation of digital assets. Standard Chartered’s involvement further enhances the stablecoins’ security, transparency, and institutional-grade reliability, setting a new benchmark for responsible digital asset adoption.    

“At StraitsX, we believe that trust, transparency, and regulatory alignment are fundamental to the mainstream adoption of digital assets. Our collaboration with Standard Chartered, a global leader with a deep legacy in finance, marks a significant step in enhancing the security and resilience of our stablecoin ecosystem,” said Jason Tay, Head of Commercial at StraitsX. “This partnership not only reinforces the reliability of XUSD/XSGD but also  provides businesses and financial institutions with a trusted, well-regulated bridge into digital assets, accelerating their integration into global commerce and payments.”

The partnership leverages Standard Chartered’s extensive global banking expertise, cash management, and custody services to build trust and resilience in the digital asset ecosystem. As Singapore advances its vision for digital finance with a progressive regulatory framework, this collaboration cements Standard Chartered as a key enabler in driving  responsible and sustainable growth within the industry.  Standard Chartered’s extensive experience in cash management and custody services aligns seamlessly with Singapore’s progressive regulatory framework for digital assets. 

“This partnership further expands Standard Chartered’s wide-ranging involvement across the digital asset ecosystem, reinforcing our role in supporting responsible growth within the industry as well as the bank’s regard for digital assets as an important and permanent part of the future of financial services,” said Luke Boland, Head of Fintech, Asia at Standard Chartered Bank. “We look forward to working closely with StraitsX and the growing ecosystem to enhance essential payment rails that make digital financial services more accessible and efficient,”

As the global demand for trusted, efficient, and interoperable digital payment solutions continue to accelerate, this partnership sets a new benchmark for the integration of blockchain-powered finance with institutional banking expertise, advancing the future of regulated, cross-border digital transactions. 

About StraitsX‍

StraitsX is Southeast Asia’s leading digital payment infrastructure provider and a  Major Payment Institution licensed by the Monetary Authority of Singapore. As the issuer of XUSD, and XSGD stablecoins, StraitsX leverages the power of blockchain and stablecoin technology to drive payments interoperability and financial inclusion while offering innovative tools for fund management, stablecoin integration, and cross-border transactions. Partnering with global institutions, businesses, and developers, StraitsX delivers cutting-edge payment solutions in a highly regulated and reliable environment, bridging the gap between traditional finance and the digital economy.

About Standard Chartered‍

Standard Chartered is a global bank connecting corporate, institutional and affluent clients to a network that offers unique access to sustainable growth opportunities across Asia, Africa, and the Middle East. Standard Chartered Bank in Singapore is part of an international banking group, with a presence in 53 of the world’s most dynamic markets for more than 160 years. Standard Chartered's purpose is to drive commerce and prosperity through unique diversity, with its heritage and values expressed in their brand promise, here for good. Standard Chartered is offering cutting-edge solutions that help fintech customers to benefit from safe, secure participation in the global fintech ecosystem.