Coinbase, StraitsX launch Singapore-Dollar Stablecoin XSGD

Users can convert SGD to XSGD 1:1.

Coinbase has announced a strategic partnership with StraitsX, the issuer of stablecoins XUSD and XSGD, to expand access to the Singapore-dollar-backed stablecoin XSGD.

The move gives Coinbase users in Singapore and around the world direct access to XSGD, which has been acknowledged by the Monetary Authority of Singapore (MAS) as compliant with the upcoming Single Currency Stablecoin (SCS) regulatory framework.

XSGD allows users to convert SGD to XSGD one-to-one, enabling faster and cheaper local and cross-border payments. It offers an alternative to USD-based stablecoins, helping businesses and individuals transact in their local currency while reducing foreign exchange risk.

The stablecoin will be available on Coinbase, Coinbase Advanced, and the Base Ethereum Layer 2 network starting at 19:00 UTC on September 29. It will also launch on Base, Coinbase’s low-cost Ethereum Layer 2 network, bringing foreign exchange transactions on-chain in a decentralized and cost-efficient way.

Coinbase and StraitsX plan to create liquidity pools to facilitate seamless stablecoin exchanges across different currency corridors.

An XSGD/USDC liquidity pool will debut on Aerodrome, Base’s central liquidity hub, with incentives supported by both Aerodrome and the Base ecosystem to drive adoption.

The on-chain launch of XSGD will enable new use cases such as blockchain-based AI agents, digital art purchases, NFT-linked real-world asset trading, and 24/7 permissionless foreign exchange transactions.

“With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet,” said Hassan Ahmed, country director of Coinbase Singapore.

Tianwei Liu, CEO and co-founder of StraitsX, called the launch “a big step forward, not just for Singapore, but for the entire digital asset ecosystem.” He added, “By enabling seamless, direct access to local currency stablecoins, we are breaking down the USD-centric barriers that have long limited on-chain FX markets.”

Both companies are fully licensed under Singapore’s regulations, reinforcing the country’s role as a hub for compliant digital finance.

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