Deployments · StraitsX stablecoins · platform by StraitsX

XSGD Singapore dollar stablecoinNew

StraitsX's Singapore dollar stablecoin, issued since 2020 by a firm licensed by the Monetary Authority of Singapore as a major payment institution and given in-principle approval in 2023 to issue it under the MAS single-currency stablecoin framework. Reserves are held in trust in cash and short-dated government debt, with monthly attestations. It runs on Ethereum, Polygon, Avalanche, Zilliqa, Arbitrum, the XRP Ledger, Hedera, Base and Solana and is pitched for regional payments and FX. About SGD 17 million was in circulation in October 2026, most of it on Ethereum.

Live (scaled) since Oct 2020^[2]i — Open to retail and business users through StraitsX; small circulation but over 7.7 billion XSGD transacted by November 2023. · Reviewed 25d ago i

Assets

Stablecoin^[2]

Singapore dollar stablecoin backed one for one by cash and short-term government debt held in trust

Networks

Ethereum Public, permissionless^[1][3]

Polygon Public, permissionless^[1][3]

Avalanche Public, permissionless^[1][3]

Zilliqa Public, permissionless^[1][3]

Arbitrum Public, permissionless^[1][3]

XRP Ledger Public, permissionless^[1][3]

Hedera Public, permissioned^[1][3]

Base Public, permissionless^[1]

Solana Public, permissionless^[1]

Use cases i

Primary issuance^[3]Payments^[2]Cross-border payments^[1]

Jurisdictions

Singapore

Participants

• StraitsXIssuer, Operator, Platform provider^[2]Singapore
• KK Yap & AssociatesAuditor or reserve attestor^[4]Singapore
• CoinbaseDistributor^[5]United States
• GrabDistributor^[6]Singapore
• Ant InternationalClient or user^[7]Singapore

Operates under

• MAS single-currency stablecoin (SCS) regulatory frameworkSingapore · Policy statement (final rules)^[2]

Assets

• IssuesXSGD (XSGD)^[1]

Metrics i

• over S$7.7bnTokens transacted on chain · as of Nov 2023^[2]
  Since October 2020.
• ~S$16.84mTokens in circulation · as of 14 Oct 2026^[3]
  On-chain via DefiLlama; sum of its per-chain balances (Base and Solana not tracked).
• ~S$11.54mTokens in circulation · as of 14 Oct 2026 · on Ethereum^[3]
  On-chain via DefiLlama.
• ~S$2.01mTokens in circulation · as of 14 Oct 2026 · on Polygon^[3]
  On-chain via DefiLlama.
• ~S$1.95mTokens in circulation · as of 14 Oct 2026 · on Avalanche^[3]
  On-chain via DefiLlama.
• ~S$1.25mTokens in circulation · as of 14 Oct 2026 · on Zilliqa^[3]
  On-chain via DefiLlama.
• ~S$16.02mSupply on chain (daily) · as of 7 Nov 2026^[8]
  Automated daily reading of on-chain supply across all chains.
• ~S$11.48mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum^[8]
  Automated daily reading.
• ~S$50,000Supply on chain (daily) · as of 7 Nov 2026 · on Hedera^[8]
  Automated daily reading.
• ~S$1.73mSupply on chain (daily) · as of 7 Nov 2026 · on Polygon^[8]
  Automated daily reading.
• ~S$1.47mSupply on chain (daily) · as of 7 Nov 2026 · on Avalanche^[8]
  Automated daily reading.
• ~S$21,673Supply on chain (daily) · as of 7 Nov 2026 · on Arbitrum^[8]
  Automated daily reading.
• ~S$10,000Supply on chain (daily) · as of 7 Nov 2026 · on XRP Ledger^[8]
  Automated daily reading.

Timeline

1. Happened 16 Nov 2023 · Regulatory approval · recorded 14 Oct 2026
   MAS grants StraitsX in-principle approval to issue XSGD (and XUSD) as single-currency stablecoins; reserves to be held in trust and independently attested.^[2]
2. Happened Oct 2020 (month only) · Launch · recorded 14 Oct 2026
   XSGD goes live; StraitsX later dates on-chain XSGD activity from October 2020.^[2]

Sources i