Coinbase partners with StraitsX to list XSGD, the first MAS-recognised SGD stablecoin, expanding local and global access to digital finance.
Coinbase announced a strategic partnership with StraitsX, the issuer of XUSD and XSGD, to introduce the first Singapore dollar-denominated stablecoin to Coinbase users in Singapore and abroad.
XSGD is the only stablecoin acknowledged by the Monetary Authority of Singapore (MAS) as compliant with the forthcoming Single Currency Stablecoin (SCS) framework. The launch will allow users to convert Singapore dollars into XSGD on a one-to-one basis and access faster, more efficient payment and settlement options both locally and across borders.
By offering an SGD-denominated option, XSGD provides an alternative to USD-based stablecoins, helping mitigate currency risk and foreign exchange volatility while promoting local economic activity. The addition of XSGD also strengthens Singapore’s position as a hub for compliant digital finance innovation.
Coinbase and StraitsX will develop liquidity pools to facilitate stablecoin exchange across multiple currency corridors. XSGD will be available on Coinbase and Coinbase Advanced from 29 September 2025, 19:00 UTC.
As part of its rollout, XSGD will also be issued on Base, Coinbase’s Ethereum Layer-2 (L2) network. This will allow users to conduct foreign exchange transactions on-chain, benefiting from decentralisation, low costs and 24/7 availability.
An XSGD/USDC pool will debut on Aerodrome, Base’s central liquidity hub, with incentives from both Aerodrome and Base to drive adoption.
Coinbase has been licensed as a Major Payment Institution (MPI) in Singapore since 2023, while StraitsX secured its MPI licences in 2024. Their collaboration underscores the city-state’s role as a global fintech leader, where regulation and innovation are advancing in tandem.
“Stablecoins are redefining how payments move across borders. With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone,” said Hassan Ahmed, Country Director of Coinbase Singapore.
“The launch of XSGD on Coinbase is a big step forward, not just for Singapore, but for the entire digital asset ecosystem. By enabling seamless, direct access to local currency stablecoins, we are breaking down the USD-centric barriers that have long limited on-chain FX markets,” added Tianwei Liu, CEO & Co-Founder of StraitsX.
The listing of XSGD highlights Coinbase’s continued expansion across the Asia-Pacific region, broadening access to tokenised finance and delivering new opportunities for both retail and institutional users.
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