Liquid lists first Singapore Dollar stablecoin XSGD issued by StraitsX

In Announcements

We are pleased to announce the immediate availability of the XSGD stablecoin to better serve our Singapore trading community.

XSGD presents Liquid users with a new way of tapping BTC/SGD markets and serves as an efficient on- and off-ramp for SGD.

What is XSGD?

XSGD is the Singapore-Dollar-backed stablecoin issued on a 1:1 basis by StraitsX, a major payment institution that is licensed for e-money issuance activity. StraitsX is a Singapore-based payments company that is focused on enabling businesses to accept payments and send money. 

Leveraging on their e-money issuance license, XSGD is highly liquid, compliant, and secure - each XSGD token is backed by one Singapore-Dollar that is being held and safeguarded in segregated accounts with a licensed financial institution.

What are the use cases of XSGD?

  • Payments 

Using StraitsX tokens to pay for goods and services.

  • Trading

Moving value seamlessly between fiat currencies and digital assets.

  • Holding

Full control and access to your funds that are stored securely on the blockchain.

  • Lending/Borrowing

XSGD tokens will be available to lend and borrow at market-determined rates.

How can you use XSGD?

XSGD is now available for instant purchase via trading or on Liquid Buy and Swap. Visa cards are accepted from any part of the world. 

Currently, the available trading pair is XSGD/SGD.

XSGD can also be used as collateral on derivatives and margin trading at Liquid.

Learn more about XSGD on https://www.straitsx.com/ 

Stablecoin Exchange at Liquid

Liquid’s expansion into blockchain-based finance is continuing with the development of the "Liquid Stablecoin Exchange" which is a trading & payments platform focused on leveraging the utility of fiat and algorithmic stablecoins. 

Liquid is listing or plans to list fiat-backed stablecoins from around the world including JPY, SGD, IDR, USD. In addition to trading, Liquid is working with ecosystem partners to develop a lending/borrowing facility of stablecoins enabling investors and traders to earn a yield on their stablecoin holdings.

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