StraitsX launches Singapore Dollar and US Dollar pegged stablecoins XSGD and XUSD on PlatON

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)