XSGD is the first fully collateralized Singapore Dollar-pegged stablecoin. It’s pegged at 1:1 to a reserve of Singapore Dollars and can be used as a stable store of value or to remove cross-border transaction fees. The XSGD token was designed to realize the vision of a regulated and decentralized financial system in Singapore.
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What Is XSGD
XSGD is a Singapore-Dollar-backed stablecoin issued on a 1:1 basis and built on the Ethereum and Zilliqa Blockchains. XSGD can be used as a stable store of value or to remove cross-border transaction fees.
XSGD is highly liquid and secure, with each XSGD token being backed by one Singapore-Dollar, held and safeguarded in segregated accounts with a licensed financial institution.
XSGD Tokens
XSGD (ERC-20) tokens run on the Ethereum blockchain as ERC-20 tokens and can be stored with any ERC-20 compatible wallet.
XSGD (ZRC-2) tokens run on the Zilliqa blockchain as ZRC-2 tokens and can be stored with any ZRC-2 compatible wallet.
Xfers verified users can convert their XSGD (ERC-20) into XSGD (ZRC-2) tokens and vice versa by depositing tokens into their Xfers deposit address, then withdrawing their SGD balance on a different blockchain.
The highest price for XSGD was $1.36 on Nov 14, 2021, and the lowest price for XSGD was $0.620483 on May 19, 2021.
XSGD Coin Founders
XSGD was founded by StraitsX and developed by Southeast Asian payment processing gateway Xfers as part of their vision to bring a trusted, decentralized financial system to Singapore. Xfers is a licensed Major Payment Institution in Singapore under the Monetary Authority of Singapore (MAS). Xfers can mint unlimited amounts of XSGD tokens under the e-money issuance framework. XSGD is backed by one Singapore dollar, held and safeguarded in a Singapore bank, and will always be redeemable on the StraitsX platform.
Aymeric Salley and Yap Jun Hao co-founded StraitsX.
Aymeric Salley heads all business operations at StraitsX. Before Xfers, Salley led Digital Assets initiatives at Paxos and Financial Services at PwC.
He holds a Master's degree in Business Administration from INSEAD and a Master's degree in Engineering from ISAT.
Yap Jun Hao is StraitsX's co-creator and Head of Engineering.
Yap Jun Hao is one of Xfers’ earliest engineers, joining the team in 2018. Before joining Xfers, Jun Hao was a software engineer for a Silicon Valley-based company. Jun Hao holds a Bachelor's degree in Computing from the National University of Singapore.
How Does XGSD Work
XSGD is a stablecoin pegged to the Singapore Dollar. XSGD enables fast and secure transfers via the blockchain with significantly lower transaction fees. It runs on both the Ethereum and Zilliqa blockchains.
As a stablecoin, XSGD can be used like a traditional currency without the fear of price fluctuations. XSGD can be used for payments, trading, lending/borrowing, and holding. XSGD is interoperable across Digital Asset Markets Transfer and can also be used within several DeFi protocols and apps to trade or provide liquidity.
Users can send Singapore dollars on the blockchain and make fast, low-cost, and secure transfers of XSGD globally with StraitsX ecosystem partners across multiple blockchains and a wide range of supported applications.
XSGD tokens are available to lend and borrow at market-determined rates.
Where to Buy XSGD
The top cryptocurrency exchanges for trading XSGD with cryptocurrency or fiat money are currently Uniswap (V3), Liquid, Indodax, CEX.IO, and ZilSwap.
