Coinbase Adds MAS-Approved XSGD Stablecoin to Platform Enabling Global Users to Trade Singapore Dollars

Coinbase Brings MAS-Recognised Singapore Dollar Stablecoin XSGD to Global Users

Coinbase is now offering its users access to XSGD, a Singapore dollar-backed stablecoin issued by StraitsX and recognised by the Monetary Authority of Singapore (MAS) under its upcoming Single Currency Stablecoin (SCS) framework.

The move allows both individuals and businesses to transact and manage digital assets in Singapore dollars, potentially reducing currency risk and foreign exchange volatility.

How XSGD Enables Local and Cross-Border Payments

Through this partnership, users can convert one Singapore dollar to one XSGD, streamlining payments within Singapore and across borders.

The stablecoin is fully backed 1:1 by reserves held with DBS Bank and Standard Chartered, ensuring reliability and regulatory compliance.

By supporting real-time, local and cross-border payments, XSGD aims to make digital transactions faster, cheaper, and more accessible.

What the Partnership Means for On-Chain Finance

StraitsX and Coinbase will jointly develop liquidity pools to support stablecoin exchanges across multiple currency corridors.

An XSGD/USDC pool will be launched on Aerodrome, a central liquidity hub on Coinbase’s Ethereum Layer 2 network, Base.

Both Aerodrome and the Base ecosystem will provide liquidity incentives to encourage adoption, enabling developers and users to execute decentralised foreign exchange transactions 24/7.

Opportunities for Developers and Users on Base

XSGD will also be available on Base, Coinbase’s low-cost Ethereum Layer 2 network, allowing users to interact with digital assets in Singapore dollars.

Use cases include AI agents engaging with the blockchain, purchasing digital art, acquiring NFT-linked collectible items, and powering on-chain FX transactions without intermediaries.

The listing also provides builders with tools to integrate local currency stablecoins into digital asset applications.

Coinbase and StraitsX Highlight Impact of XSGD on Global Payments

Hassan Ahmed, country director of Coinbase Singapore, emphasised the practical benefits for users:

“With XSGD now live on Coinbase, sending and receiving funds in Singapore dollars becomes instant and straightforward. It opens up opportunities for anyone with a phone and wallet to access local and cross-border payments seamlessly, making financial services more inclusive and efficient.”

Tianwei Liu, CEO and co-founder of StraitsX, noted the broader significance for the digital asset ecosystem:

“Listing XSGD on Coinbase isn’t just about Singapore – it’s about creating smoother pathways for on-chain currency exchange worldwide. By moving beyond USD-centric systems, this partnership helps pave the way for a multi-currency environment where global transactions can happen quickly, directly, and without friction.”

Both leaders highlighted that the collaboration is not only a step toward expanding regional access but also a move toward a more connected and accessible global financial system, bridging traditional finance and blockchain innovation.

Global Stablecoin Market and Regional Ambitions

Stablecoins make up about 7 percent of the crypto market, according to BlackRock.

Singapore and Hong Kong are actively seeking a share of the US$250 billion stablecoin market through regulatory measures.

Cross-border commerce in Asia is projected to surpass US$4 trillion by 2030, with regulated stablecoins like XSGD playing a key role in enabling real-time, transparent, and compliant transactions.

Trading Details and Launch Schedule

XSGD will go live on Coinbase and Coinbase Advanced at 19:00 UTC on 29 September (03:00 Singapore time, 30 September).

Users will be able to trade the stablecoin globally and access it through decentralised exchanges on Base.

The listing strengthens Coinbase’s APAC expansion, offering a Singapore dollar-denominated option alongside its existing US dollar-based stablecoins.