Fully-Regulated Digital SGD Launched On Zilliqa And Ethereum By Xfers

This e-money license allows Xfers to, in turn, mint an unlimited amount of XSGD, with the stipulation being that the same amount of fiat currency needs to be locked in bank accounts approved by the MAS. Salley Stated that Xfers believes that the time is now for stablecoins based on other fiat currencies to emerge, such as the SGD.

The XSGD stablecoin itself is set to launch on both Zilliqa and Ethereum, and will be instantly available on both wallets and exchanges based within the StraitsX ecosystem. The world at large is focusing more and more on the use of blockchain-based technologies, such as central bank digital currencies (CBDCs), as well as various stablecoins.

Timeline of Ethereum, Zilliqa