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XSGD (XSGD) is the 445th largest cryptocurrency in the world by market cap, valued at $43,756,118. The current price of XSGD is $0.7476, which is -0.531% lower than yesterday. Prices have ranged between $0.757055 and $0.750057 over the past 24 hours. All prices are listed in US dollars and accurate as of March 28, 2023 09:03 UTC.
XSGD is a Singaporean dollar stablecoin issued by StratisX, a digital assets platform created by Xfers. Xfers is a Southeast Asian payment institution that aims to pioneer the digital infrastructure of payments throughout Southeast Asia.
StratisX was created by Xfers to meet the rising crypto demand for Asian-focused stablecoins. XSGD is one of StratisX’s first stablecoin products and is issued via a 1:1 ratio with the Singapore Dollar. Developed on both the Ethereum and Zilliqa blockchains, each XSGD minted is backed by physical Singapore dollars held within a partner bank.
According to the StratisX’s website, the XSGD token allows users to transfer Singaporean dollars to anyone in the world at a fraction of the cost of the traditional fiat system, with near-instant processing time, and without the need for an intermediary. StraitsX has partnered with a wide range of applications to create a large ecosystem that is interoperable and easy to use. As a cryptocurrency, XSGD can also be used to participate in various DeFi activities such as lending and liquidity mining.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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