StraitsX issues SGD stablecoin and XUSD stablecoin on PlatON chain

Mars Finance News, according to The Block, PlatON has successfully integrated the compliant stablecoins XSGD (1:1 pegged to Singapore dollar) and XUSD (1:1 pegged to US dollar) issued by StraitsX into its network. Users can freely send, receive, and hold XSGD and XUSD on PlatON. Through collaboration with multiple stablecoin issuers and cross-border payment institutions, PlatON will provide richer payment scenarios for XSGD and XUSD, including online and offline payment network access, cross-border remittance services, and stablecoin exchange services. It is reported that StraitsX is a primary payment institution authorized by the Monetary Authority of Singapore (MAS). This cooperation with PlatON not only provides a high-performance underlying infrastructure for XSGD and XUSD but also, through synergy with licensed acquiring institutions like Allinpayintl, builds a complete chain from stablecoin issuance, cross-border payment to local consumption, opening up digital currency acceptance for merchants in Singapore, Hong Kong, and other regions, enabling stablecoins to be conveniently and safely used in online and offline settlement scenarios.