Coinbase is partnering with Straitsx to bring the world’s first SGD-backed Stablecoin to users on the platform. The token has been recognized by Singapore’s monetary authorities as complying with the upcoming Stablecoin framework.
summary
- Coinbase creates XSGD, the world’s first SGD-assisted Stablecoin available to users of the base ecosystem.
- Users can exchange Singapore Dollars directly for XSGD on the platform at a 1:1 ratio.
According to a press release sent to crypto.news, XSGD will be available to Coinbase and Coinbase Advanced users from 7:00 PM UTC on September 29, 2025. As part of the initial deployment, XSGD will also be issued on the Ethereum Layer 2 chain base.
The token became the first stubcoin to be supported by SGD. This has been recognized by financial regulators as complying with the country’s future single currency stubline regulation framework.
Furthermore, through a partnership between the crypto exchange and the Stablecoin-Native Settlement Layer, XSGD, the world’s first SGD-backed Stablecoin created by Straitsx, is accessible through decentralized base exchanges, expanding global financial access beyond existing models.
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As part of this deployment, the two companies will launch a joint liquidity pool that will allow users to exchange stub coins in different currencies. One of them includes the XSGD/USDC pool of Aerodrome (Aero), the main liquidity hub on the base network, and includes liquidity incentives supported by both Aerodrome and Base Ecosystem.
How do Coinbase users access XSGD?
Starting September 29, users will be able to convert Singapore Dollars directly to XSGD Stubcoins in a one-to-one ratio via Coinbase and other decentralized exchanges in basic ecosystems. Users can also exchange various currencies and assets for XSGD through liquidity pools.
XSGD serves as a new Fiat-based alternative to the dominant USD-based Stablecoins already on the market. SGD-backed tokens will enable Singaporean individuals and businesses to trade and manage digital assets in their local currency. The collaboration is also intended to mitigate currency risk and foreign exchange volatility.
Additionally, having access to XSGD on a base gives users and builders the ability to unlock a variety of use cases, such as activating AI agents, purchasing digital art, obtaining “real world assets” such as collectible items linked to NFTs, and supplying power for chain-on-chain trading.
Hassan Ahmed, country director at Coinbase Singapore, said the launch of XSGD at Coinbase is aimed at maximizing Stablecoin adoption, in order to change the way cross-border payments are adopted. Therefore, it increases global economic freedom.
“With XSGD using live at Coinbase Singapore, we have made local and cross-border payments instantly and accessible to anyone with a mobile phone and wallet,” Ahmed said in a statement.
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