Crypto Singapore dollar aims to diversify landscape dominated by USD

Cointelegraph

Published Oct 05, 2020 09:05AM ET

Updated Oct 05, 2020 10:40AM ET

Singapore-based payments company Xfers announced on Monday the official release of its XSGD stablecoin, pegged to the Singapore dollar.

The stablecoin would be one of the first SGD-denominated tokens, giving Singapore businesses and individuals a way to transact with crypto backed by their national currency. XSGD is launched on the Zilliqa and Ethereum blockchains. The token is launched as part of Xfers’ StraitsX initiative.

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