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StraitsX launches Singapore Dollar and US Dollar pegged stablecoins XSGD and XUSD on PlatON
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The stablecoins XSGD and XUSD, pegged to the Singapore dollar and the US dollar respectively and issued by StraitsX, have been integrated into the PlatON network. XSGD, a stablecoin pegged to the Singapore dollar, was issued by StraitsX in 2020 and is fully backed 1:1 by reserves held by DBS Bank and Standard Chartered Bank. XUSD is its US dollar counterpart, also backed 1:1 by US dollar reserves held by regulated financial institutions. (The Block)
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