News

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 has deployed the XUSD smart contract on Ethereum. Issued as an ERC-20 token, XUSD is designed for interoperability and scalable growth.

Xfers and StraitsX obtain In-Principle Approval under the Payment Services Act, enabling expanded payment services and digital payment token offerings.

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.

StraitsX is pleased to announce a collaboration with Ant International and Grab to look into the potential for Purpose Bound Money (PBM) to be applied to cross border payments. PBM is a protocol that specifies the conditions upon which an underlying digital currency can be used and first introduced by MAS as part of Project Orchid.

StraitsX receives in-principle approval from MAS as a Major Payment Institution, enabling stablecoin issuance aligned with MAS’ upcoming regulatory framework.

Keep a lookout for various demonstrations of Purpose Bound Money (PBM) happening across different booths at Singapore FinTech Festival (SFF) 2023, held from 15-17 November 2023 at Singapore Expo. PBM is a concept first introduced by the Monetary Authority of Singapore (MAS) as part of Project Orchid, which enables special conditions to be specified when making transfers in digital money.

StraitsX is exhibiting at Singapore Fintech Festival (SFF) 2023

USD bank transfers are now available to Singapore and international Personal and Business account users, following the reintroduction of USD payment rails within the StraitsX ecosystem.

StraitsX, a part of Fazz, is pleased to be a part of industry trials to demonstrate a commercial application for Purpose Bound Money (PBM). This will come in the form of NFT vouchers loaded with underlying XSGD value for payment of goods and services at over 200 merchants outlets. These NFT vouchers are set to be used by over 20,000 users from 7 September 2023 to 31 December 2023. 

We’re proud to announce that StraitsX will be a sponsor and exhibitor at TOKEN2049 Singapore, held from 13th – 14th September 2023, at Marina Bay Sands Expo and Convention Centre. 

StraitsX and BasedApp launch an XSGD-linked Visa card in Singapore, enabling users to spend their digital assets effortlessly at 100M+ Visa merchants.