Coinbase is taking a major step to make crypto feel more familiar to everyday users. It announced that it will add two fiat-backed stablecoins, the Australian dollar-based (AUDD) and the Singapore dollar-backed (XSGD) to its trading platform starting September 29, 2025, at 19:00 UTC.
For Coinbase, this isn’t just another token listing, it’s part of a bigger plan to bring a billion people into crypto by letting them transact in the money they already know and use.
Through a blog post, Coinbase reveals that AUDD is issued by AUDC Pty Ltd, fully backed 1:1 by Australian dollar reserves. Meanwhile, XSGD, developed by StraitsX, is tied to the Singapore dollar and recognized by the Monetary Authority of Singapore (MAS).
It also fits into Singapore’s new Single Currency Stablecoin regulatory framework, a rare case of crypto tokens aligning neatly with government rules.
However, this move significantly reduces friction for Australians and Singaporeans converting between fiat and crypto.
Coinbase is listing two new local stablecoins:
🇦🇺 AUDD
🇸🇬 XSGD
Local stablecoins will drive local crypto business growth and help to onboard many more new people to crypto. pic.twitter.com/ZFDX1y4A5O
— Brian Armstrong (@brian_armstrong) September 24, 2025 According to an Ipsos survey commissioned by Coinbase, over 70% of crypto holders in these countries want local stablecoins they can actively use, addressing both day-to-day and cross-border payment needs.
How Users Will BenefitDirect 1:1 conversion of AUD → AUDD and SGD → XSGD on Coinbase, no forex fees.Access to multi-currency liquidity pools, including XSGD/USDC on Aerodrome Finance.Wider adoption of local stablecoins in payments, settlements, and DeFi use cases.Regulatory clarity for XSGD, one of the few stablecoins with official approval in Southeast Asia.Breaking Away from the Dollar GripThe stablecoin market has exploded, hitting $250 billion in value this year after processing more than $30 trillion in transactions in 2024. But here’s the catch: nearly all of it runs on the U.S. dollar.
That leaves people outside the U.S. paying extra for conversions and missing out on the convenience of transacting in their own money.
Coinbase wants to change that. With AUDD and XSGD, users in Australia and Singapore will soon be able to convert their local dollars into these stablecoins on Coinbase without paying fees.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Launching globally on September 29 at 19:00 UTC, these assets mark the first Australian dollar and Singapore dollar stablecoins available on the platform. Stablecoins are digital tokens pegged to traditional currencies, offering a faster, cheaper, and more reliable alternative to standard bank transfers.
Why AUDD and XSGD Matter The addition of AUDD and XSGD aligns with broader trends in digital payments and cross-border finance. Stablecoins are increasingly becoming the backbone of the global payments system, supporting quicker and more cost-effective transfers. For example, companies like Circle have demonstrated that USD Coin (USDC) can settle payments internationally in minutes, compared with days using traditional wire transfers.
Local stablecoins also support the growth of on-chain commerce. Users can now hold, send, or pay in AUDD or XSGD without exposure to exchange rate volatility, opening doors for e-commerce, payroll, and microtransactions. This functionality is central to Coinbase’s mission to bring 1 billion people into the crypto ecosystem. This will make stablecoins accessible and practical in everyday financial life.
Coinbase is listing two new local stablecoins:
🇦🇺 AUDD
🇸🇬 XSGD
Local stablecoins will drive local crypto business growth and help to onboard many more new people to crypto. pic.twitter.com/ZFDX1y4A5O
— Brian Armstrong (@brian_armstrong) September 24, 2025
By offering assets tied to local fiat, Coinbase is empowering users to engage with crypto on familiar terms while participating in the global blockchain economy. As businesses increasingly explore crypto for payments, payroll, and treasury management, AUDD and XSGD provide practical tools for integrating blockchain into daily operations.
More about Coinbase Coinbase emphasized that the traditional financial system wasn’t designed for the digital age. Their goal is to build a new financial system that is onchain, open, and accessible to everyone. To achieve this, Coinbase is partnering with Base and Y Combinator to support founders. They Would be bold enough to develop the next generation of financial infrastructure and decentralized applications.
The financial system wasn’t built for the internet.
So we’re building a new one – onchain, open, and for everyone.
And we’re not doing it alone: @base + @ycombinator want to support the founders bold enough to build what comes next. pic.twitter.com/eiVNHhhm1X
— Coinbase 🛡️ (@coinbase) September 23, 2025
This initiative aims to provide resources, mentorship, and funding to entrepreneurs pushing the boundaries of Web3 and blockchain technology.
Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies presented are the thoughts and opinions of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments; therefore, please conduct your due diligence. Copyright Altcoin Buzz Pte Ltd.
OKX Singapore has launched what it claims is the first stablecoin-powered scan-to-pay service in the city-state, enabling customers to spend USDC or USDT at GrabPay merchant locations by scanning standard SGQR codes.
The service, launched today through partnerships with stablecoin issuer StraitsX and payments platform Grab, allows OKX customers to convert their stablecoins into Singapore dollars at point of sale across Grab's extensive merchant network. Transactions settle through StraitsX's XSGD stablecoin using Singapore's Purpose Bound Money framework, which applies programmable logic for compliant conditional settlement.
The OKX Pay rollout addresses a longstanding challenge in cryptocurrency adoption: bridging the gap between digital asset holdings and everyday merchant acceptance. While crypto payment cards have existed for years, direct scan-to-pay integration with established merchant networks represents a more seamless user experience.
OKX Singapore's service targets the company's existing customer base, who can now utilize stablecoin holdings for daily purchases rather than converting to fiat before spending. The instant conversion mechanism addresses volatility concerns by settling transactions at real-time exchange rates.
"OKX Pay addresses real needs for customers by expanding DPTs' use beyond trading and investing to everyday payments - from a morning coffee to dining out with friends," said Gracie Lin, OKX Singapore CEO, in a statement shared with Blockhead.
The integration operates through the OKX SG app with instant USDT/USDC-to-XSGD-to-SGD conversion, while merchants receive settlement in Singapore dollars without directly handling digital payment tokens. Each transaction executes as a blockchain transfer with embedded compliance checks and real-time validation through the PBM framework.
Lim Kell Jay, regional head of Grab Financial Group, emphasized the benefit for merchant partners: "By integrating OKX Pay with GrabPay through StraitsX's settlement network, we are enabling our merchant-partners to benefit from expanding acceptance to a broader range of users and payment options, without any change to their existing flows."
The launch represents a practical application of Singapore's regulatory framework for digital payment tokens, which OKX Singapore operates under as a licensed DPT platform. The company received Major Payment Institution status from the Monetary Authority of Singapore in September 2024, allowing it to provide digital payment token services in the jurisdiction.
StraitsX serves as the regulated payment service provider enabling the settlement layer. The company's XSGD stablecoin maintains a 1:1 peg with the Singapore dollar and provides the bridge between cryptocurrency holdings and local currency merchant settlement.
"The future of payments will be defined by trust, speed, and interoperability – and stablecoins are at the heart of this shift," said Tianwei Liu, StraitsX CEO and co-founder. "The launch of OKX Pay is more than a new service but a blueprint for how stablecoins will underpin global commerce in the years ahead."
StraitsX has established integrations beyond Grab, that enables acceptance at merchants supporting regional wallets like GCash, KakaoPay, and Touch 'n Go. These partnerships position XSGD as infrastructure for cross-border stablecoin commerce across Asia.
Singapore's Purpose Bound Money framework provides the regulatory infrastructure enabling such implementations. The PBM system allows digital currencies to carry programmable conditions governing their use, ensuring transactions meet compliance requirements without manual intervention.
The launch comes as Singapore positions itself as a hub for regulated digital asset activity. The Monetary Authority of Singapore has pursued a measured approach to cryptocurrency regulation, establishing licensing frameworks while maintaining strict compliance requirements for operators.
Whether the service gains significant traction depends on user adoption patterns and merchant awareness. Grab's extensive merchant network provides broad potential acceptance, though merchant education about accepting stablecoin-originated payments may require time.
PANews reported on October 2 that according to official news, Coinbase announced that the Australian stablecoin AUDD and the Singapore stablecoin XSGD have been launched today.
Share to:
Author: PA一线
This content is for market information only and is not investment advice.
Follow PANews official accounts, navigate bull and bear markets together
StraitsX announced Tuesday it will extend its stablecoin-based payment network across Asia, connecting Singapore, Thailand, Taiwan, and Japan through real-time cross-border settlement infrastructure set to launch in the second quarter of 2026.
StraitsX is expanding the StraitsX Payment Network to drive real-time, FX-transparent cross-border settlement across Asia, beginning with enhanced connectivity between Singapore, Thailand, Taiwan, and Japan by Q2 2026.
This begins with a partnership with KASIKORNBANK to enable… pic.twitter.com/tyVpOIrRRc
— StraitsX (@StraitsX) November 4, 2025 To start, the Singapore-based company is partnering with Thailand's Kasikornbank (KBank) to enable QR code payment interoperability between Thailand's national QR Payment system and Singapore's SGQR framework, with the XSGD stablecoin serving as the settlement asset for cross-border transactions.
Under the first phase of the Thailand-Singapore corridor, Thai travelers visiting Singapore will be able to pay at GrabPay and select PayNow-enabled merchants using Q Wallet by KBank, which utilizes Thailand's Q-money blockchain-based e-money. Merchants will receive instant settlement in Singapore dollars while consumers pay through familiar local interfaces.
A second phase, pending regulatory approval, will allow Singapore travelers to use their home wallets for payments in Thailand with seamless Thai baht settlement.
"By embedding XSGD into established consumer rails like GrabPay and Q Wallet by KBank, we're showing how trusted digital assets can deliver real-time settlement, transparent FX conversion, and interoperability at scale," Tianwei Liu, CEO and co-founder of StraitsX, said in a statement.
Concurrently, StraitsX will integrate into a regional settlement framework connecting regulated consumer and institutional payment platforms in Taiwan and Japan. The expansion will enable users in those markets to make payments across participating merchant networks in Southeast Asia, with all cross-border transactions settled in XSGD behind the scenes.
The network aims to provide instant cross-border payments with transparent foreign exchange conversion and regulatory alignment across participating markets, demonstrating how stablecoins can function as infrastructure for everyday financial activity at regional scale.
The announcement follows StraitsX's September introduction of Singapore's first stablecoin "scan-to-pay" experience and reflects growing momentum for stablecoin adoption in Asian payment systems.
"Asia is setting the pace for how stablecoins will power the next phase of global payments," Liu said. "By embedding stablecoin settlement into the region's most trusted consumer and institutional payment rails, we're creating the infrastructure for programmable, borderless finance that can operate safely, transparently, and at scale."
Iran's Revolutionary Guards Corps warned that any vessels using the Strait of Hormuz route without Tehran's approval will be targeted.
Iran's Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to international shipping on Wednesday, stating that any new shipping route through the Strait of Hormuz established without coordination with Tehran is unacceptable and dangerous, and threatening to take direct action against vessels that ignore its orders. The IRGC declared that vessels can only safely transit the Strait of Hormuz via routes designated by Iran. The IRGC Navy added that all vessels seeking to transit the strait must coordinate with the Iranian military via International Maritime Distress and Safety Frequency Channel 16, a requirement that effectively places Iranian military approval at the core of all commercial shipping transiting this key chokepoint. (Jinshi)
2 minutes ago
A crypto whale holding 120,000 ETH long positions has an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, a whale holding 120,000 ETH in long positions added $8 million in margin in the early hours. Currently, the total unrealized loss on its ETH long positions across four linked addresses stands at approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the significant paper losses, there remains a large buffer before liquidation, and over 6 million USDC is still held on-chain to replenish margin, resulting in low short-term liquidation risk.
2 minutes ago
A crypto whale holding 120,000 ETH long positions is sitting on an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, the whale holding a long position of 120,000 ETH added $8 million in margin again in the early hours. Currently, the ETH long positions across its four associated addresses have accumulated an unrealized loss of approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the massive unrealized loss, there is still a significant buffer before liquidation, and over 6 million USDC are still held on-chain to supplement margin, leading to low short-term liquidation risk.
2 minutes ago
Ripple's stablecoin RLUSD approved to enter Japanese market
According to official announcements, Ripple’s stablecoin RLUSD has been officially approved by Japan’s Financial Services Agency (JFSA) and launched in Japan. Through a partnership with SBI Group and its subsidiary trading platform VCTRADE, RLUSD will be accessible to institutional and retail users for use in scenarios including payments, asset tokenization, and collateral management.
2 minutes ago
WSJ: CoinEx Linked to Iran-Related Cryptocurrency Fund Flows
According to a Wall Street Journal report, since 2019, wallets linked to Iran have transferred over $3.84 billion in assets via cryptocurrency exchange CoinEx. On-chain data shows that CoinEx’s custodial wallet received crypto proceeds from hacks tied to Iran’s central bank, and conducted direct transactions with accounts previously designated by U.S. officials as belonging to Iran’s Islamic Revolutionary Guard Corps. Additionally, in 2024, CoinEx replaced Binance to become the largest overseas counterparty for Iranian exchange Nobitex, with the two parties recording over $763 million in fund flows last year. Between 2022 and 2025, CoinEx’s custodial wallet also processed transactions involving individuals suspected of participating in the sanctioned Iranian oil sales network.
2 minutes ago
Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.
According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.
Iran's Revolutionary Guards Corps warned that any vessels using the Strait of Hormuz route without Tehran's approval will be targeted.
Iran's Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to international shipping on Wednesday, stating that any new shipping route through the Strait of Hormuz established without coordination with Tehran is unacceptable and dangerous, and threatening to take direct action against vessels that ignore its orders. The IRGC declared that vessels can only safely transit the Strait of Hormuz via routes designated by Iran. The IRGC Navy added that all vessels seeking to transit the strait must coordinate with the Iranian military via International Maritime Distress and Safety Frequency Channel 16, a requirement that effectively places Iranian military approval at the core of all commercial shipping transiting this key chokepoint. (Jinshi)
2 minutes ago
A crypto whale holding 120,000 ETH long positions has an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, a whale holding 120,000 ETH in long positions added $8 million in margin in the early hours. Currently, the total unrealized loss on its ETH long positions across four linked addresses stands at approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the significant paper losses, there remains a large buffer before liquidation, and over 6 million USDC is still held on-chain to replenish margin, resulting in low short-term liquidation risk.
2 minutes ago
A crypto whale holding 120,000 ETH long positions is sitting on an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, the whale holding a long position of 120,000 ETH added $8 million in margin again in the early hours. Currently, the ETH long positions across its four associated addresses have accumulated an unrealized loss of approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the massive unrealized loss, there is still a significant buffer before liquidation, and over 6 million USDC are still held on-chain to supplement margin, leading to low short-term liquidation risk.
2 minutes ago
Ripple's stablecoin RLUSD approved to enter Japanese market
According to official announcements, Ripple’s stablecoin RLUSD has been officially approved by Japan’s Financial Services Agency (JFSA) and launched in Japan. Through a partnership with SBI Group and its subsidiary trading platform VCTRADE, RLUSD will be accessible to institutional and retail users for use in scenarios including payments, asset tokenization, and collateral management.
2 minutes ago
WSJ: CoinEx Linked to Iran-Related Cryptocurrency Fund Flows
According to a Wall Street Journal report, since 2019, wallets linked to Iran have transferred over $3.84 billion in assets via cryptocurrency exchange CoinEx. On-chain data shows that CoinEx’s custodial wallet received crypto proceeds from hacks tied to Iran’s central bank, and conducted direct transactions with accounts previously designated by U.S. officials as belonging to Iran’s Islamic Revolutionary Guard Corps. Additionally, in 2024, CoinEx replaced Binance to become the largest overseas counterparty for Iranian exchange Nobitex, with the two parties recording over $763 million in fund flows last year. Between 2022 and 2025, CoinEx’s custodial wallet also processed transactions involving individuals suspected of participating in the sanctioned Iranian oil sales network.
2 minutes ago
Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.
According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.
PANews reported on December 16th that StraitsX announced a partnership with the Solana Foundation to integrate its Singapore dollar-backed stablecoin XSGD and US dollar-backed stablecoin XUSD onto the Solana blockchain, with a planned launch in early 2026. This integration will leverage Solana's efficient, low-cost network to enable real-time global payments and digital commerce.
XSGD and XUSD have previously operated on multiple blockchains, with a cumulative on-chain transaction volume exceeding $18 billion. This listing on Solana will, for the first time, achieve deep connectivity between the Singapore dollar and the US dollar on the same chain, supporting on-chain forex, AMM liquidity, lending markets, and institutional-grade payment flows.
StraitsX and the Solana Foundation will also collaborate to promote deep liquidity in DEX, AMM, and lending markets, further solidifying Solana's central position in AI-driven on-chain payments and DeFi applications.
Iran's Revolutionary Guards Corps warned that any vessels using the Strait of Hormuz route without Tehran's approval will be targeted.
Iran's Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to international shipping on Wednesday, stating that any new shipping route through the Strait of Hormuz established without coordination with Tehran is unacceptable and dangerous, and threatening to take direct action against vessels that ignore its orders. The IRGC declared that vessels can only safely transit the Strait of Hormuz via routes designated by Iran. The IRGC Navy added that all vessels seeking to transit the strait must coordinate with the Iranian military via International Maritime Distress and Safety Frequency Channel 16, a requirement that effectively places Iranian military approval at the core of all commercial shipping transiting this key chokepoint. (Jinshi)
2 minutes ago
A crypto whale holding 120,000 ETH long positions has an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, a whale holding 120,000 ETH in long positions added $8 million in margin in the early hours. Currently, the total unrealized loss on its ETH long positions across four linked addresses stands at approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the significant paper losses, there remains a large buffer before liquidation, and over 6 million USDC is still held on-chain to replenish margin, resulting in low short-term liquidation risk.
2 minutes ago
A crypto whale holding 120,000 ETH long positions is sitting on an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, the whale holding a long position of 120,000 ETH added $8 million in margin again in the early hours. Currently, the ETH long positions across its four associated addresses have accumulated an unrealized loss of approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the massive unrealized loss, there is still a significant buffer before liquidation, and over 6 million USDC are still held on-chain to supplement margin, leading to low short-term liquidation risk.
2 minutes ago
Ripple's stablecoin RLUSD approved to enter Japanese market
According to official announcements, Ripple’s stablecoin RLUSD has been officially approved by Japan’s Financial Services Agency (JFSA) and launched in Japan. Through a partnership with SBI Group and its subsidiary trading platform VCTRADE, RLUSD will be accessible to institutional and retail users for use in scenarios including payments, asset tokenization, and collateral management.
2 minutes ago
WSJ: CoinEx Linked to Iran-Related Cryptocurrency Fund Flows
According to a Wall Street Journal report, since 2019, wallets linked to Iran have transferred over $3.84 billion in assets via cryptocurrency exchange CoinEx. On-chain data shows that CoinEx’s custodial wallet received crypto proceeds from hacks tied to Iran’s central bank, and conducted direct transactions with accounts previously designated by U.S. officials as belonging to Iran’s Islamic Revolutionary Guard Corps. Additionally, in 2024, CoinEx replaced Binance to become the largest overseas counterparty for Iranian exchange Nobitex, with the two parties recording over $763 million in fund flows last year. Between 2022 and 2025, CoinEx’s custodial wallet also processed transactions involving individuals suspected of participating in the sanctioned Iranian oil sales network.
2 minutes ago
Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.
According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.
Iran's Revolutionary Guards Corps warned that any vessels using the Strait of Hormuz route without Tehran's approval will be targeted.
Iran's Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to international shipping on Wednesday, stating that any new shipping route through the Strait of Hormuz established without coordination with Tehran is unacceptable and dangerous, and threatening to take direct action against vessels that ignore its orders. The IRGC declared that vessels can only safely transit the Strait of Hormuz via routes designated by Iran. The IRGC Navy added that all vessels seeking to transit the strait must coordinate with the Iranian military via International Maritime Distress and Safety Frequency Channel 16, a requirement that effectively places Iranian military approval at the core of all commercial shipping transiting this key chokepoint. (Jinshi)
2 minutes ago
A crypto whale holding 120,000 ETH long positions has an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, a whale holding 120,000 ETH in long positions added $8 million in margin in the early hours. Currently, the total unrealized loss on its ETH long positions across four linked addresses stands at approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the significant paper losses, there remains a large buffer before liquidation, and over 6 million USDC is still held on-chain to replenish margin, resulting in low short-term liquidation risk.
2 minutes ago
A crypto whale holding 120,000 ETH long positions is sitting on an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, the whale holding a long position of 120,000 ETH added $8 million in margin again in the early hours. Currently, the ETH long positions across its four associated addresses have accumulated an unrealized loss of approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the massive unrealized loss, there is still a significant buffer before liquidation, and over 6 million USDC are still held on-chain to supplement margin, leading to low short-term liquidation risk.
2 minutes ago
Ripple's stablecoin RLUSD approved to enter Japanese market
According to official announcements, Ripple’s stablecoin RLUSD has been officially approved by Japan’s Financial Services Agency (JFSA) and launched in Japan. Through a partnership with SBI Group and its subsidiary trading platform VCTRADE, RLUSD will be accessible to institutional and retail users for use in scenarios including payments, asset tokenization, and collateral management.
2 minutes ago
WSJ: CoinEx Linked to Iran-Related Cryptocurrency Fund Flows
According to a Wall Street Journal report, since 2019, wallets linked to Iran have transferred over $3.84 billion in assets via cryptocurrency exchange CoinEx. On-chain data shows that CoinEx’s custodial wallet received crypto proceeds from hacks tied to Iran’s central bank, and conducted direct transactions with accounts previously designated by U.S. officials as belonging to Iran’s Islamic Revolutionary Guard Corps. Additionally, in 2024, CoinEx replaced Binance to become the largest overseas counterparty for Iranian exchange Nobitex, with the two parties recording over $763 million in fund flows last year. Between 2022 and 2025, CoinEx’s custodial wallet also processed transactions involving individuals suspected of participating in the sanctioned Iranian oil sales network.
2 minutes ago
Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.
According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.
StraitsX will launch XSGD and XUSD on Solana in early 2026, targeting on-chain FX, cross-border settlement, and AI-driven payments with x402 support.
Summary
StraitsX will deploy its SGD- and USD-pegged stablecoins XSGD and XUSD on Solana in early 2026, making it the first L1 to host both assets natively. The launch targets on-chain FX, instant SGD–USD swaps, and cross-border settlement, leveraging Solana’s high throughput and low fees plus liquidity pools on CEXs and DEXs. Both stablecoins will support the x402 payment standard to enable machine-to-machine and AI-agent micropayments in what StraitsX calls the emerging “agentic economy.” StraitsX announced a partnership with the Solana Foundation to deploy its Singapore dollar-backed stablecoin (XSGD) and U.S. dollar-backed stablecoin (XUSD) on the Solana blockchain, with an initial rollout targeted for early 2026, according to a company statement.
The collaboration will make Solana the first Layer 1 blockchain to host both XSGD and XUSD simultaneously, StraitsX said. The company stated the integration is designed to support on-chain foreign exchange use cases and real-time cross-border settlement, utilizing Solana’s high throughput and low transaction costs.
The deployment aims to enable near-instant swaps between SGD and USD without traditional intermediaries, according to the announcement. StraitsX said the launch will facilitate instant currency conversion and settlement for businesses and developers operating on-chain, allowing users to move between SGD and USD within a single ecosystem.
Stablecoin leading crypto infrastructure push Both stablecoins will support the x402 payment standard, enabling machine-to-machine payments, automated transactions, and AI-agent micropayments, the company said. StraitsX described this functionality as positioning the stablecoins for use within the emerging “agentic economy,” where software agents and machines transact autonomously.
StraitsX plans to collaborate with centralized and decentralized exchanges to establish liquidity pools for XSGD and XUSD on Solana, stating that liquidity provisioning will be prioritized to ensure efficient foreign exchange swaps and settlement at scale.
The Solana expansion follows previous issuance of XSGD on Ethereum, Polygon, and Coinbase’s Base Layer 2, extending the stablecoin’s multichain presence.
StraitsX operates as a Major Payment Institution licensed by the Monetary Authority of Singapore. The company reported its stablecoins have processed more than $18 billion in cumulative on-chain transaction volume to date. The firm stated the Solana deployment aims to combine regulatory-grade stablecoins with high-performance public blockchain infrastructure for use cases including cross-border payments, foreign exchange settlement, programmable finance, and AI-driven transactions.
Singapore’s regulated crypto ecosystem is preparing for another major step forward. StraitsX, a Monetary Authority of Singapore (MAS)-licensed stablecoin issuer, has announced plans to bring its Singapore dollar-backed XSGD and U.S. dollar-backed XUSD stablecoins to the Solana blockchain by early 2026.
The move signals growing confidence in high-performance blockchains as demand for real-world, regulated stablecoin use accelerates across Asia.
Why Solana Was ChosenStraitsX’s decision to integrate with Solana reflects a focus on speed, cost efficiency, and scalability. Solana’s low transaction fees and high throughput make it well-suited for payments, trading, and automated financial activity. According to StraitsX, launching both XSGD and XUSD on a single, high-performance network allows users to access centralized exchanges, decentralized liquidity, lending protocols, and everyday payments within one ecosystem.
The expansion also aligns with Solana’s growing role in automated payments, especially through support for the x402 standard, which enables machine-to-machine transactions. This makes Solana attractive for emerging AI-driven use cases where software agents need to transact autonomously and at scale.
Also Read : Strong Onchain Track RecordStraitsX is not starting from scratch. XSGD is already live across multiple blockchains, including Ethereum, Polygon, Avalanche, Arbitrum, Hedera, Zilliqa, and the XRP Ledger. XUSD is currently available on Ethereum and BNB Smart Chain. Together, the two stablecoins have processed over $18 billion in on-chain transaction volume, highlighting strong real-world usage rather than speculative demand.
While XSGD’s market capitalization stands near $13 million and XUSD’s around $52 million, their transaction volumes suggest growing adoption in payments, settlements, and cross-border activity, particularly within Southeast Asia.
Regulatory Clarity Strengthens the CaseA key differentiator for StraitsX is regulation. The company operates as a licensed Major Payment Institution under MAS and has confirmed that both XSGD and XUSD align with Singapore’s upcoming stablecoin regulatory framework. This compliance positions the stablecoins as trusted tools for institutions and enterprises looking to adopt blockchain-based payments without regulatory uncertainty.
From Crypto to Everyday PaymentsBeyond DeFi and trading, StraitsX is pushing toward mainstream adoption. Recently, Southeast Asia’s super-app Grab signed an exploratory agreement with StraitsX to build a stablecoin-based settlement layer. If approved, users across the region could eventually hold and spend XSGD and XUSD directly within the Grab app, blending digital wallets, programmable payments, and regulated stablecoins.
Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQsWhat are XSGD and XUSD stablecoins?
XSGD and XUSD are regulated stablecoins issued by StraitsX, fully backed by Singapore dollars and U.S. dollars for payments and settlements.
Why is StraitsX launching XSGD and XUSD on Solana?
Solana offers fast transactions, low fees, and high scalability, making it ideal for payments, DeFi, and automated, real-world stablecoin use.
When will XSGD and XUSD be available on Solana?
StraitsX plans to launch both stablecoins on the Solana blockchain by early 2026, pending technical readiness and regulatory alignment.
How will XSGD and XUSD be used beyond crypto trading?
They are designed for real-world payments, cross-border settlements, DeFi, and potential integration into apps like Grab for everyday use.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Alchemy Pay has given users around the world a simpler way to move cash onto blockchains by adding StraitsX’s $XSGD and $XUSD stablecoins to its fiat on-ramp. The payment gateway, already known for connecting traditional payment rails to crypto networks, now lets people in 173 countries buy these fiat-backed tokens with familiar methods like Visa and Mastercard, Apple Pay and Google Pay, local bank transfers and mobile wallets across more than 50 fiat currencies.
That might sound technical, but the practical effect is straightforward: people and businesses who want stable, regulator-friendly crypto exposure can now convert local currency into $XSGD and $XUSD without jumping through hoops. For many users, especially institutions that care about compliance and settlement certainty, this removes a major friction point between bank accounts and stablecoins.
StraitsX positions itself as a settlement layer built for stablecoins. Its $XSGD and $XUSD are fully reserved, fiat-backed tokens intended to make cross-border payments and liquidity flows smoother. Importantly, both coins are recognised by the Monetary Authority of Singapore as being substantively compliant with the regulator’s forthcoming Single-Currency Stablecoin framework, a signal that they were designed with oversight and real-world integration in mind. StraitsX also works with established banks such as Standard Chartered and DBS, which helps the project stitch together traditional finance and on-chain liquidity.
Faster Fiat-to-Crypto Flows For Alchemy Pay, the listing is part of a broader push to mainstream crypto payments. The company has built a global network underpinned by an array of regulatory approvals, including ten U.S. Money Transmitter Licenses and permissions across Southeast Asia, Korea, Europe and the U.K. That licensing footprint matters: it gives payment partners and customers confidence that when they move fiat into the crypto world, those flows meet regulatory expectations.
Behind the scenes, Alchemy Pay is also building new infrastructure of its own. The company is developing Alchemy Chain, a Layer-1 blockchain focused on stablecoin payments, and plans to launch a testnet soon alongside its own stablecoin. That roadmap suggests Alchemy Pay sees the future of payments as a mix of traditional rails and purpose-built blockchain layers working together.
The addition of $XSGD and $XUSD broadens the choices available to users who want a compliant path into digital currencies. It’s a reminder that the stablecoin ecosystem is maturing: issuers are working with banks and regulators, and payment gateways are trying to make on-ramps as seamless as possible. For end users, this means fewer steps, less confusion, and a clearer route from everyday money to programmable money. This integration is expected to accelerate adoption by firms and consumers seeking reliable digital payment options.
As stablecoins become more central to cross-border transactions and digital commerce, partnerships like the one between Alchemy Pay and StraitsX illustrate a simple idea playing out in the market: when regulated issuers and established payment providers cooperate, moving between fiat and crypto stops feeling like a technical stunt and starts feeling like an everyday utility.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
Kasikornbank (KBank) has expanded its Q Wallet app to let Thai travellers pay Singapore merchants by scanning GrabPay QR codes, with settlement handled on-chain via StraitsX's XSGD stablecoin — no currency exchange or overseas bank account required, according to an announcement on Wednesday.
The three-way partnership between KBank, StraitsX, and Grab uses Q-money, KBank's own e-money token, as the settlement medium. Transactions run on Quarix, a blockchain infrastructure built by Orbix Technology & Innovation, a KBank group entity. Through integration with StraitsX, Q-money interoperates with XSGD to settle payments in real time between the two countries' payment ecosystems. The system also implements Purpose Bound Money controls to add programmable guardrails to the flows.
Both StraitsX and Grab hold Major Payment Institution licences from the Monetary Authority of Singapore, and StraitsX and KBank are participating members of MAS's Bloom initiative. On the Thai side, the service is operating under a Bank of Thailand regulatory sandbox.
Singapore is KBank's first overseas pilot market for Q Wallet. The Grab merchant network gives it meaningful merchant coverage from day one, without requiring Thai travellers to download a separate local payments app.
StraitsX CEO Tianwei Liu framed the tie-up as a proof point for stablecoins in everyday cross-border commerce. "Travellers shouldn't have to think about currencies when they cross borders," he said.
