Stablecoin event
XSGD launches publicly
StraitsX, then operating through Xfers, publicly released XSGD on 5 October 2020 with one-to-one Singapore-dollar backing and issuer conversion for verified users.
ImpactHigh
Detail kindLaunch
Sources2
StraitsX Singapore Dollar
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XFERS PTE. LTD. (StraitsX)
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| Date | 2020-10-05 |
|---|---|
| Event type | Launch |
| Event detail kind | Launch |
| Stablecoin subjects | StraitsX Singapore Dollar |
| Organization subjects | XFERS PTE. LTD. (StraitsX) |
| Impact | High |
| Effect on stablecoin status | Active |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | Public information is incomplete. |
| Record confidence | High |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| Introducing XSGD — the Singapore Dollar-backed and Travel Rule compliant stablecoin | StraitsX | Official Statement | Launch, First Public Release, One to One Sgd Backing, Issuer Conversion, Launch Backing and Redemption |
| Celebrating 5 Years of XSGD, The First SGD Stablecoin for Real-World Payments | StraitsX | Official Statement | First Issuance, Launch Date, Continuous Asset Identity, Launch Date Confirmation |
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