Crypto Singapore dollar aims to diversify landscape dominated by USD By Cointelegraph

Crypto Singapore dollar aims to diversify landscape dominated by USD

Crypto Singapore dollar aims to diversify landscape dominated by USD

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

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