BlockBeats News, June 5th, according to TheBlock, PlatON has successfully integrated the compliance stablecoins XSGD (pegged 1:1 to the Singapore Dollar) and XUSD (pegged 1:1 to the US Dollar) issued by StraitsX into its network. Users can freely send, receive, and hold XSGD and XUSD on PlatON. Through cooperation with multiple stablecoin issuers and cross-border payment institutions, PlatON will provide XSGD and XUSD with a more diverse range of payment scenarios, including online and offline payment network access, cross-border remittance services, stablecoin-to-stablecoin exchange services, and more.
StraitsX is a major payment institution authorized by the Monetary Authority of Singapore (MAS). This cooperation with PlatON not only provides a high-performance underlying infrastructure for XSGD and XUSD but also, through collaboration with licensed acquirers such as Allinpayintl, builds a complete chain from stablecoin issuance and cross-border payments to local consumption. It connects digital currency acceptance for merchants in Singapore, Hong Kong, and other regions, enabling the convenient and secure use of stablecoins in online and offline payment settlement scenarios.
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