The Singaporean Dollar is the latest monetary currency to be added to the blockchain, the token itself has been created and designed by the talented Xfers teams with help along the way from Zilliqa. The token named XSGD will run on the Zilliqa blockchain, renowned for its speed and scaling capabilities.
Xfers is one of Southeast Asia’s leading Fintech platforms for digital business, the platform itself moves over $250m dollars a year. Having access to a digital currency pegged 1:1 with the SGD will enable Xfers and its partners to move money seamlessly and reduced fees transaction fees thanks to the Zilliqa blockchain.
The token itself will first appear on popular crypto trading application Crypto.com with more exchanges coming in the future.
Tianwei Liu, Co-founder and CEO of Xfers was noted saying:
“Since the announcement of the pilot of StraitsX in November last year. The listing on Crypto.com’s mobile app marks the first public appearance of XSGD. However, we are looking forward to having more merchants join us in this initiative.”
Xfers has been in talks with some big names in Singapore regarding onboarding businesses to use the XSGD with names of the likes of Binance, WooWoo Exchange, Sparrow, and Coinhako being interested.
The future of the XSGD looks promising and will surely bring more utility and use-case to the amazing Zilliqa blockchain.
Till the next time,
Andy
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