Remove Interoperability Remove Settlement Remove Stablecoins
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XWeave Secures US$3 Million Funding for Stablecoin Cross-Border Payments

Fintech News

XWeave , a startup developing infrastructure for stablecoin-based cross-border payments, has raised US$3 million in seed funding. The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products. said Milind Sanghavi, Founder and CEO of XWeave.

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StraitsX Teams Up With Ripple to Launch XSGD Stablecoin on XRP Ledger

Fintech News

StraitsX has launched its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), marking a new phase in its collaboration with Ripple to support real-time digital payments across Asia. XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered.

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Rain and Visa Partner to Accelerate Onchain Credit Cards

Fintech Finance

Rain , a global card issuing platform built for stablecoins, is helping usher in a new era of onchain finance through its work with Visa. Rain announced it has joined Visa’s pilot program for stablecoin settlement. Rain is programmatically leveraging stablecoins enabling network settlement 7 days a week, 365 days a year.

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BIS: Stablecoins Offer Promise, but Need Consistent Regulation

Fintech News

The Bank for International Settlements (BIS) has released a report, “Stablecoins: Regulatory Responses to Their Promise of Stability,” analysing the regulatory environments for stablecoins across seven distinct jurisdictions.

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StraitsX Secures MAS Licenses for Stablecoin Issuance, Crypto Payments

Fintech News

This development follows the earlier announcement in November 2023, where StraitsX, along with Paxos, received In-Principle Approvals (IPA) from MAS to issue stablecoins. In addition to this, StraitsX has introduced XUSD, a fiat-pegged USD stablecoin, aimed at digitising currencies essential for global trade.

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Swift Works on Enabling Real-Time Exchange of Digital Assets and Payments

Fintech News

Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. This advancement could allow real-time exchanges of tokenised assets and payments on the Swift platform.

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StraitsX is Bringing Real-World Stablecoins to the Singapore Mainstream

Fintech News

Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.