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Techub News reports that Singapore-based stablecoin issuer StraitsX has announced plans to launch the Singapore dollar stablecoin XSGD and the US dollar stablecoin XUSD on the Layer1 blockchain Monad in 2027. The company stated that XSGD will be the first Singapore dollar stablecoin issued directly on Monad. StraitsX, a subsidiary of Singapore fintech company Xfers, has obtained a Major Payment Institution license from the Monetary Authority of Singapore. This collaboration aims to leverage Monad's high-performance features to provide stablecoin settlement solutions for Web3 applications. (Tech in Asia)
Techub News, Coinbase tweeted that the Australian stablecoin AUDD and the Singapore stablecoin XSGD are now available today.
Techub News: Coinbase will list the first batch of stablecoins denominated in Australian dollars and Singapore dollars, AUDD and XSGD. The two new stablecoins will begin global sales on Coinbase on September 30 at 1:00 Hong Kong Time. AUDD is an Australian digital currency issued by AUDC Pty Ltd. It is a fully collateralized, legally backed stablecoin designed to be exchanged at a 1:1 ratio with the Australian dollar, specifically built for institutional-grade programmable finance. XSGD is a fiat-backed stablecoin issued by StraitsX. XSGD has received recognition from the Monetary Authority of Singapore (MAS) and complies with the upcoming Single Currency Stablecoin (SCS) regulatory framework.
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