Wirex Integrates XSGD, the World’s Largest Non-USD Fiat-backed Stablecoin

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Key takeaways:

  • Wirex, a leading digital payments platform, has added six new stablecoins to their platform as part of their ongoing mission to bring cryptocurrency to the mainstream.
  • The most recent addition is XSGD, the world’s largest non-USD fiat-backed stablecoin.
Wirex Integrates Xsgd
Wirex Integrates XSGD

Wirex integrates the World’s Largest Non-USD Fiat-Backed Stablecoin, XSGD, on its platform and is one of the world’s largest non-USD Fiat-Backed Stablecoins.

Wirex is a regulated global digital payment platform that made history in the digital payments market in 2015 when it launched the world’s first crypto-enabled payment card, allowing customers to spend both crypto and traditional currencies in real life.

The platform, which is a leading digital payments platform, has added six new stablecoins. The most recent addition is XSGD, the world’s largest non-USD fiat-backed stablecoin.

The six new coins will be added to DAI, the Wirex network’s first stablecoin, which has a user base of over 4.5 million. The platform allows users to buy, hold, exchange, and sell a variety of traditional and cryptocurrencies, which can then be used with the world’s first crypto-enabled prepaid card.

XSGD was chosen as Wirex’s first APAC-based stablecoin, inspired by the company’s focus on promoting a safe and trusted crypto sector, and is now available on the StraitsX platform developed by Xfers Pte. Ltd, a prominent Southeast Asian payment processing gateway, will help Singapore achieve its goal of a regulated and decentralised financial system.

“Wirex is a crypto-focused company that collaborates with the mission of making crypto accessible to all, so having a diverse range of tokens to suit all users, regardless of their lifestyle or experience with crypto, is critical. Stablecoins, such as XSGD, are an excellent choice for those new to cryptocurrency because they provide a stable asset while also providing users with the benefits of cryptocurrency.”

“At StraitsX, we believe ASEAN currency-denominated stablecoins will see increased adoption, and we’re pleased to see Wirex leading the way on this project, with XSGD now supported by the Wirex platform,” said Aymeric Salley, Head of StraitsX. “We believe that stablecoins denominated in ASEAN currencies will gain traction.”

In the coming months, Wirex will launch the new WXT token, which will include a recently launched non-custodial version of its rewards programme, X-tras 2.0, additional highly requested coins, and the expansion of its product to the United States.

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Chetna Prakash

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