XSGD and XUSD, StraitsX's Singapore Dollar and U.S. Dollar-Pegged Stablecoins, Now Live on PlatON Network
SINGAPORE, June 4, 2025 /PRNewswire/ -- PlatON, the blockchain for payments, has announced the integration of XSGD and XUSD, stablecoins issued by StraitsX and pegged to the Singapore Dollar and U.S. Dollar respectively, onto the PlatON Network. This move marks a significant step forward in building a more efficient and compliant cross-border-ready stablecoin clearing and settlement infrastructure for global merchants, financial institutions, and digital asset developers.
XSGD is a Singapore Dollar-pegged stablecoin issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. XUSD, its U.S. Dollar counterpart, is similarly backed 1:1 by U.S. dollar reserves held with regulated financial institutions. With both stablecoins now live on the PlatON Network, users and enterprises can now access stable, programmable value transfer across PlatON's high-performance infrastructure—unlocking a broad range of payment scenarios.
As the stablecoin-native settlement layer behind XSGD and XUSD, StraitsX has powered over U.S.$10 billion in on-chain stablecoin transactions to date, enabling seamless value movement across networks, borders, and platforms. This integration with PlatON extends that reach by offering scalable, compliant infrastructure to support real-world applications at the institutional level.
Initiated and driven by the LatticeX Foundation, PlatON is building a "payment highway" that connects traditional finance with the digital economy via the TOPOS payment clearing network. Utilizing payment solutions like MINT, RemiNet, Stablecoin Payment Gateway, and Self Custody wallets, PlatON is developing a compliant, stable, and open multilateral clearing network, aiming to upgrade stablecoins from being mere "transfer tools" to "clearing and settlement infrastructure."
This collaboration also lays the groundwork for future enhancements focused on institutional-grade use cases. Future phases of the long term partnership will include exploration of programmable payouts, merchant settlements, and seamless compliance integrations with licensed acquiring partners like Allinpayintl The collaboration with PlatON will equip XSGD and XUSD with high-performance underlying infrastructure, allowing comprehensive processing from stablecoin issuance to cross-border payments and local consumption. This connection enables merchants in key financial hubs like Singapore and Hong Kong to process stablecoin payments securely, conveniently, and in compliance with local regulations.
Looking ahead, PlatON and StraitsX plan to expand support for regional markets, promoting the widespread adoption of programmable, compliant payment infrastructure across Southeast Asia and global markets. Through these efforts, PlatON continues to build toward an open, interoperable financial network that powers digital assets in real-world use cases.
SOURCE PlatON
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