Question 1

What is XSGD (XSGD)?

Accepted Answer

XSGD is a stablecoin pegged to the Singapore Dollar (SGD), designed to maintain a consistent value with the SGD. It operates on several blockchains, including Ethereum, Polygon, and Zilliqa. Each XSGD token is fully collateralized one-for-one by the Singapore Dollar, providing a stable and reliable digital currency option for users​​​​​​.

XSGD is issued by StraitsX, a trademark of Xfers Pte Ltd. StraitsX is a licensed Major Payment Institution by the Monetary Authority of Singapore, operating under a framework that ensures compliance with the Payment Services Act. This regulatory compliance adds a layer of trust and reliability to the operations of StraitsX and the issuance of XSGD. StraitsX's approach exemplifies a blend of innovation in digital currency with adherence to regulatory standards​​​​.

Question 2

What is XSGD (XSGD) used for?

Accepted Answer

XSGD offers several advantages for its users. Primarily, it facilitates near-instantaneous cross-border transactions and allows for the swapping of other stablecoins at competitive rates. Moreover, it supports micropayments due to its ability to be counted out to six decimal places, addressing a key limitation of traditional fiat-based digital payment systems. XSGD's versatility also extends to its usability across various blockchain ecosystems, including Zilliqa and Ethereum, thereby enhancing its utility in the evolving landscape of digital finance​​.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	XSGD-USDC XSGD-USDC	coinbase	AA	0.7818USDC	0.08%	2,097.00XSGD	9	0.7812USDC	0.7818USDC
2	XSGD-USD xsgdusd	bitstamp	AA	1.77USD	0.00%	0XSGD	0	1.77USD	1.77USD
3	XSGD-USDT xsgdusdt	bitstamp	AA	0.7760USDT	0.00%	0XSGD	0	0.7760USDT	0.7760USDT