The partnership, first outlined in a Memorandum of Understanding (MOU) at the 2023 Singapore Fintech Festival, has now culminated in the deployment of a live cross-border, stablecoin-powered payment system. The payment system has been made possible through the use of blockchain technology, including the Avalanche network, to power backend payment acceptance flows with Purpose Bound Money.

StraitsX is pleased to announce the integration of USDC Polygon within the StraitsX dashboard, providing enhanced accessibility to more stablecoins across multiple chains. With the addition of USDC Polygon, users can now access a more affordable and efficient network to manage their stablecoins and engage with the broader decentralised finance (DeFi) ecosystem.

Begin trading XSGD on Bitstamp. XSGD's listing on Bitstamp will significantly enhance its liquidity, enabling users and businesses to more easily access stablecoins for international transactions. This will allow faster settlement times, reduced transaction costs, and access to competitive exchange rates, making XSGD a powerful tool for seamless and cost-effective cross-border payment flows. 

We’re excited to announce that XSGD / USDC liquidity pools are now live on DEXs and other DeFi protocols with the Avalanche blockchain ecosystem, including Pharaoh and Xave. This development marks a milestone in our commitment to expanding the utility and accessibility of XSGD across multiple blockchain networks, offering users more seamless options for trading and liquidity.

Leverage the Tron network for USDT transactions via the StraitsX platform! The integration of USDT (TRC-20) transactions via the StraitsX platform will offer greater cost-efficiency, with fixed transaction fees as low as 0.5 USDT for deposits and 2 USDT for withdrawals.

We are thrilled to announce that StraitsX has secured MPI licences from the Monetary Authority of Singapore (MAS) to offer more comprehensive digital payment services. Additionally, we have also launched XUSD, the StraitsX U.S. Dollar-pegged stablecoin as part of its initiative to digitise currencies integral to global trade.

We are pleased to share that Tether (USDT) is now supported on the StraitsX platform for Singapore and International Personal and Business accounts. This latest development will allow users to seamlessly deposit, swap, store, and manage USDT. 

Grab, Southeast Asia’s leading super app, recently introduced “Digital Payment Tokens” as an additional option for users to top-up their GrabPay Wallet. Digital assets available for top-up are BTC, ETH, USDC, USDT, and XSGD (The StraitsX Singapore Dolla

We’re excited to share that StraitsX CEO and Co-founder, Liu Tianwei, will take the stage at Japan FinTech Festival 2024 to share more on the continuous innovation of a robust stablecoin infrastructure and blockchain technology to bring to market real-world use cases of stablecoins as a form of digital currency.

StraitsX is pleased to announce the deployment of the smart contract for XUSD on Ethereum. XUSD is to be built on the Ethereum protocol and issued as an ERC-20 token to address matters of interoperability, allowing XUSD to eventually grow at scale within one of the most widely adopted smart contract open-source platforms upon full public issuance.

As we approach the conclusion of 2023 and usher in the new year of 2024, it provides us with a valuable opportunity as a company to reflect on the significant milestones attained throughout the year.

Xfers and StraitsX obtains In-Principle Approval under The Payment Services Act. The In-Principle Approval allows Xfers Pte. Ltd. to offer a wider scope of payment services going forward, and StraitsX Payment Services Pte. Ltd. to provide digital payment token services.