XRP Ledger Powers Launch of StraitsX’s XSGD Stablecoin

The XRP Ledger is making headlines once again as StraitsX, a trusted regional crypto infrastructure provider, has officially launched its Singapore dollar-backed stablecoin, XSGD, on the blockchain. This strategic move caters to increasing global demand for regulated, multi-chain stablecoins that operate seamlessly across borders and support real-time settlement.

XSGD, now deployed on the XRP Ledger (XRPL), is engineered to facilitate a range of financial activities including international settlements, programmable financial operations, and on-chain transactions. Built on the efficient and secure framework of XRPL — a public decentralized blockchain developed by Ripple — XSGD integrates compliance and scalability with low settlement costs and fast transaction speeds.

StraitsX holds a Major Payment Institution license from the Monetary Authority of Singapore (MAS) and has been issuing XSGD since 2020. Notably, the stablecoin remains fully collateralized, backed 1:1 by the Singapore dollar, with reserves secured at both DBS Bank and Standard Chartered. This assures users of transparency and regulatory alignment, making XSGD a credible choice for institutional-grade applications.

As of today, the circulating supply of XSGD stands at 14.12 million coins, with on-chain activity registering over 8 billion transactions. Prior to its XRPL deployment, XSGD was already live on multiple chains including Ethereum, Arbitrum, Polygon, Hedera, Avalanche, and Zilliqa — reinforcing its interoperability in the multi-chain ecosystem.

Liu Tianwei, co-founder and deputy of StraitsX, emphasized the importance of stablecoins as essential infrastructure rather than mere digital representations of fiat. “By launching XSGD on the XRP Ledger, we’re advancing our vision of interoperability, broadened access, and automation across blockchain platforms optimized for meaningful value exchange,” Tianwei told CoinDesk.

The expansion of XSGD onto XRPL couldn’t come at a better time, as the world moves toward the next frontier in digital payments. Projections suggest that cross-border e-commerce in Asia will soar to exceed $4 trillion by 2030. Additionally, global cross-border payment flows are anticipated to hit $250 trillion by 2027, based on research from Infosys Finacle.

Infosys’ report also highlighted Ripple’s pivotal role in digital payments infrastructure. Specifically, it praised Ripple’s real-time fund settlement, noting its ability to bypass pre-funded accounts and deliver near-instant, cost-effective transactions — a critical feature in today’s payment systems.

Strategic Partnership Rollout

The current release of XSGD on XRPL is just the beginning of a planned multi-phase rollout under the strategic partnership between Ripple and StraitsX. According to a recent press announcement, June will see the next stage unfold, focused on expanding enterprise and institutional use. This phase will introduce programmable payouts, merchant settlements, and tools for streamlined compliance, directly addressing the evolving needs of financial institutions.

Fiona Murray, Managing Director for Ripple in the Asia-Pacific region, lauded the initiative, stating, “StraitsX’s integration of XSGD with the XRP Ledger reflects the critical role stablecoins are playing in revolutionizing payments.” Murray further explained that stablecoins such as XSGD will increasingly support enterprise-grade operations, specifically within liquidity management, payment workflows, and compliance infrastructure across global markets.

“Our collaboration with StraitsX is a testament to our sustained efforts in promoting regulated digital assets that are poised to redefine the way international payments are made,” added Murray. The launch embodies Ripple’s broader mission of streamlining value exchange through blockchain and making secure, cost-effective transactions universally accessible.

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As regulated stablecoins gain traction amid intensifying demand for frictionless, compliant cross-border solutions, the deployment of XSGD on XRPL positions both Ripple and StraitsX as leaders steering the blockchain payment revolution.