StraitsX, a payment infrastructure provider based in Southeast Asia, has launched its Singapore dollar-backed stablecoin, XSGD. The launch is powered by the XRP Ledger (XRPL) and Ripple, a contributor to XRPL. 1:1 backing from reserves held by DBS Bank and Standard Chartered assures transparency for users. This move opens doors for developers, fintech companies, and financial institutions to leverage XSGD for seamless payments, innovative finance solutions, and real-time transfers. The token has a history of being used in over 8 billion on-chain transactions, with 14.12 million XSGD tokens currently in circulation. XSGD is also active on several other blockchains like Ethereum, Polygon, Arbitrum, Avalanche, Hedera, and Zilliqa, making it a truly multi-chain digital currency.