Coinbase and StraitsX Bring XSGD Stablecoin to Global Markets

Highlights:

• Coinbase launches XSGD stablecoin for global users, increasing access to Singapore dollars in the crypto space.
• The collaboration facilitates the smooth access to local currency stablecoins via low-cost Ethereum Layer 2 support.
• StraitsX and Coinbase will work together to expand liquidity pools and application cases for XSGD in various markets.

Coinbase is set to integrate the XSGD stablecoin backed by the Singapore Dollar to its platform, marking a major step in the expansion of its Asia-Pacific (APAC) region. In collaboration with StraitsX, Coinbase will distribute the XSGD to its users across the globe as a regulated stablecoin backed 1:1 by the Singaporean Dollar. The stablecoin will be available on both Coinbase and Coinbase Advanced beginning on September 30, as per the press release.

Hassan Ahmed, Country Director of Coinbase, Singapore, said:

“This partnership brings us closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet. The collaboration is expected to make cryptocurrency transactions easier for businesses and users in Singapore.”

A Seamless Experience for Users

The integration of XSGD will enable users to easily convert between cryptocurrencies and Singapore Dollars. Coinbase provides a secure and regulated environment, which makes the exchange of digital assets smooth and efficient. As StraitsX’s stablecoin is pegged to the Singapore Dollar, its users can trust its stability in making payments and trading.

🚀 $XSGD is coming on @coinbase!

Our Singapore Dollar-backed stablecoin is going to be available on one of the world’s most trusted cryptocurrency exchanges.

Get ready to trade, hold, and transfer XSGD on @CoinbaseSG on 29 September 2025 (19:00 UTC).

With over 8.7 billion… pic.twitter.com/yIyXcVNFAo

— StraitsX (@StraitsX) September 24, 2025

The token will also be minted on Base, which is Coinbase’s low-cost Ethereum Layer 2 network. This will enable users to make decentralized foreign exchange (FX) transactions. The XSGD will be available on decentralized exchanges (DEXs) like Aerodrome and will offer users a higher degree of flexibility in terms of trading. Moreover, a liquidity pool for the XSGD/USDC pair will be launched, which will support faster transactions.

Regulatory Compliance and Global Reach

XSGD has obtained recognition from the Monetary Authority of Singapore (MAS) for complying with its upcoming framework on single currency stablecoins. This recognition lends credibility to the stablecoin, ensuring that it meets the highest regulatory standards.

StraitsX’s CEO, Tianwei Liu, emphasized the significance of the XSGD stablecoin launch. He noted that it would offer smooth, direct access to stablecoins of local currency. He further explained that this partnership assists in removing limitations of USD-centric systems that have been hampering on-chain foreign exchange markets in the past.

Coinbase’s widespread reach means millions of users around the world will now have access to a stablecoin backed by a trusted, local currency. The introduction of XSGD makes local and cross-border payments more efficient. Moreover, it opens the paths further for the adoption of Singapore dollar-denominated stablecoins in the digital asset space.

Stablecoins have gained a lot of popularity, particularly as they are now becoming more recognized and used. The increased demand is a result of regulatory support, such as the recently signed GENIUS Act, which aims to foster stablecoin innovation.

In another related move to ramp up blockchain payments, Coinbase and Cloudflare have joined forces to launch the x402 Foundation. The goal of this initiative is to promote machine-to-machine payments through the use of the x402 protocol. As a result, this facilitates seamless integration with Coinbase’s platform.

🚀 Big news 🚀 @coinbase and @cloudflare will be launching the x402 Foundation to establish x402 as the universal standard for AI-driven payments.

Legacy payment systems weren’t built for machines, but x402 changes that by embedding payments directly into web interactions,… pic.twitter.com/Uma0jH2xmn

— Coinbase Developer Platform🛡️ (@CoinbaseDev) September 23, 2025