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Stablecoins are challenging Asia’s financial order
And for Singapore-based StraitsX, its local currency token presents opportunities to optimise payments made to merchants in the Republic.
Its XSGD token, which trades on Coinbase, is the only Singapore dollar-backed stablecoin to date that has been deemed "substantively compliant" with the Monetary Authority of Singapore's (MAS) single-currency regulatory structure, which was finalised in 2023.