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Singapore’s Xfers Releases New Stablecoin
Summary: Singapore has just released a new SGD-denominated stablecoin, XSGD, via the payments company Xfers, as reported by Cointelegraph. The new stablecoin is available on the Ethereum and Zilliqa blockchains, is subject to the Monetary Authority of Singapore’s PSN01 guidelines, and is usable with non-custodial wallets. The release of the new stablecoin represents an attempt ...
Singapore has just released a new SGD-denominated stablecoin, XSGD, via the payments company Xfers, as reported by Cointelegraph. The new stablecoin is available on the Ethereum and Zilliqa blockchains, is subject to the Monetary Authority of Singapore’s PSN01 guidelines, and is usable with non-custodial wallets.
The release of the new stablecoin represents an attempt to expand crypto markets beyond USD-denominated stablecoins. In addition, Xfers hopes to expand XSGD for use in the DeFi ecosystem; the stablecoin is already available on Zilswap and as an ERC-20 contract on Ethereum.
By Isaac Goluboff
