Coinbase and StraitsX Launch SGD-Backed Stablecoin XSGD for Global Traders

TLDR

• Coinbase & StraitsX launch XSGD, an SGD-backed stablecoin on Base.
• XSGD brings SGD stability to DeFi via Coinbase and Ethereum Layer 2 Base.
• XSGD debuts on Coinbase, targeting APAC with SGD-pegged digital currency.
• Coinbase taps APAC with XSGD, a Singapore-dollar stablecoin on Base.
• XSGD enables SGD on-chain with Coinbase and StraitsX partnership.

Coinbase and StraitsX have jointly launched XSGD, a stablecoin backed 1:1 by the Singapore dollar. The rollout of XSGD signals Coinbase’s broader move into Asia-Pacific, with full access beginning September 29, 2025. The stablecoin will be available via Coinbase and decentralized exchanges on Ethereum Layer 2 network, Base.

XSGD Targets APAC Market with Singapore Dollar Peg

Coinbase has partnered with StraitsX to launch XSGD, aiming to diversify the global stablecoin landscape. XSGD, first issued in 2020, holds reserves at DBS Bank and Standard Chartered to ensure 1:1 backing. This development introduces a viable non-USD stablecoin for users in Singapore and surrounding regions.

The partnership also supports Singapore’s digital asset regulations, as XSGD complies with the upcoming Single Currency Stablecoin framework. The Monetary Authority of Singapore recognizes the token as compliant, enhancing trust and regulatory clarity. This recognition could boost adoption within the regulated finance ecosystem.

StraitsX brings regional expertise to the collaboration, and Coinbase delivers global infrastructure and access. The launch reflects both firms’ commitment to digital currency growth in APAC. With this, users can seamlessly convert SGD into XSGD through Coinbase, eliminating friction in fiat-to-crypto movement.

XSGD Debuts on Coinbase and Ethereum Layer 2 Base

XSGD will be accessible via Coinbase and Coinbase Advanced from September 29, 2025, at 19:00 UTC. It will be deployed on Base, Coinbase’s Layer 2 blockchain built on Ethereum. This integration enables fast, low-cost transactions while expanding the utility of the stablecoin.

Joint liquidity pools will launch with the rollout, including a notable XSGD/USDC pool on Aerodrome Finance. Aerodrome serves as Base’s main liquidity hub, and incentives from both Base and Aerodrome will support this pool. These pools allow seamless stablecoin swaps across different fiat currencies.

Through these pools, users can trade assets without leaving the decentralized ecosystem, increasing flexibility. As a result, global traders gain access to Singapore’s fiat value in the form of XSGD. This inclusion marks a step toward broader financial integration in decentralized finance.

XSGD Offers Local Currency Stability and Global Utility

XSGD gives users a way to manage digital assets in SGD instead of defaulting to USD. This reduces exposure to currency fluctuations and offers more relevant financial tools to users in Southeast Asia. The move expands choices for businesses and users seeking alternatives in stablecoin ecosystems.

XSGD unlocks new use cases beyond currency exchange. It can power AI tools, support digital art purchases, and enable on-chain acquisition of real-world assets. These applications make XSGD more than just a stable store of value.

Coinbase and StraitsX aim to make XSGD central to local and cross-border payments. Users worldwide can now transact in SGD using digital wallets and blockchain infrastructure. This partnership sets a foundation for stablecoin innovation focused on regional relevance and regulatory alignment.

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