Regulation Fuels Explosive Growth of Stablecoins
In 2023, the Monetary Authority of Singapore (MAS) introduced a stablecoin regulatory framework, leading to significant growth in compliant stablecoins like $XSGD By the second quarter of 2024, Singapore’s stablecoin payments reached nearly $1 billion, reflecting a substantial increase over six months.
At the @consensus_hk roundtable “Stablecoins: Shaping the Future of Payments,” hosted by #PlatON, Jason Tay, Head of Commercial at @StraitsX, emphasized a three-pronged approach to stablecoin development: regulation, banking, and issuers. He noted, “Our partnerships with Alipay+ and Grab demonstrate that behind every QR code scan, multi-currency stablecoin settlements may be happening in real time.”
Singapore’s MAS framework (2023) and Hong Kong’s regulatory sandboxes—such as Standard Chartered and Animoca’s compliant stablecoin initiative—highlight the “REGULATION + BANKING + ISSUER” model as the cornerstone of Asia’s regulatory path forward.
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Did You Know?
Stablecoins in Asia are changing global finance, they mark significant strides in reducing the region's reliance on the U.S. dollar.
Here are some fascinating facts about this trend 👇
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【Cross-Border Payment Revolution: @Coinsph CEO Wei Zhou Says “Stablecoins Are Eating Into Traditional Payment Markets”】
At the #ConsensusHK roundtable hosted by #zelena wallet adoption is growing at an annual rate of 400%.
has received approval from the Philippines Central Bank to pilot the peso-pegged stablecoin PHPC and aims to establish Southeast Asia’s first multi-currency liquidity pool. This would enable merchants to directly exchange Singapore dollar stablecoins (XSGD) for peso stablecoins (PHPC) without USD intermediaries, potentially reducing cross-border settlement costs by over 70%.
“Stablecoins are rapidly eating into the market share of traditional payment systems—much faster than anyone expected,” Wei Zhou stated.
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WE’RE BOOSTING ON AVALANCHE ⚡
$AVAX rewards continue for liquidity providers across 15+ Liquidity Book Pools. Deposit liquidity & earn a share of 600+ $AVAX in weekly incentives.
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Solana
Bring your @Backpack to Breakpoint, folks 🎒
Using Backpack’s new integration with @StraitsX, you can pay for food and coffee around Singapore using (PBM) XSGD on Solana!
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XSGD price performance in TRY
The current price of xsgd is ₺28.6529. Over the last 24 hours, xsgd has increased by +0.36%. It currently has a circulating supply of 2,764,190 XSGD and a maximum supply of 2,764,190 XSGD, giving it a fully diluted market cap of ₺79.20M. The xsgd/TRY price is updated in real-time.
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+0.12%
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+0.14%
4h
+0.28%
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+0.36%
About XSGD (XSGD)
XSGD (XSGD) is a decentralized digital currency leveraging blockchain technology for secure transactions. As an emerging global currency, XSGD currently stands at a price of ₺28.6529.
Why invest in XSGD (XSGD)?
As a decentralized currency, free from government or financial institution control, XSGD is definitely an alternative to traditional fiat currencies. However, investing, trading or buying XSGD involves complexity and volatility. Thorough research and risk awareness are essential before investing.
Find out more about XSGD (XSGD) prices and information here on OKX TR today.
How to buy and store XSGD?
To buy and store XSGD, you can purchase it on a cryptocurrency exchange or through a peer-to-peer marketplace. After buying XSGD, it’s important to securely store it in a crypto wallet, which comes in two forms: hot wallets (software-based, stored on your physical devices) and cold wallets (hardware-based, stored offline).
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 121 new posts about XSGD, driven by 91 contributors, and total online engagement reached 1.4K social interactions. The sentiment score for XSGD currently stands at 69%. Compared to all cryptocurrencies, post volume for XSGD currently ranks at 8389. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of XSGD.
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Posts
121
Contributors
91
Interactions
1,354
Sentiment
69%
Volume rank
#8389
X
Posts
78
Interactions
1,328
Sentiment
69%
XSGD FAQ
What’s the current price of XSGD?
The current price of 1 XSGD is ₺28.6529, experiencing a +0.36% change in the past 24 hours.
Can I buy XSGD on OKX TR?
No, currently XSGD is unavailable on OKX TR. To stay updated on when XSGD becomes available, sign up for notifications or follow us on social media. We’ll announce new cryptocurrency additions as soon as they’re listed.
Why does the price of XSGD fluctuate?
The price of XSGD fluctuates due to the global supply and demand dynamics typical of cryptocurrencies. Its short-term volatility can be attributed to significant shifts in these market forces.
How much is 1 XSGD worth today?
Currently, one XSGD is worth ₺28.6529. For answers and insight into XSGD's price action, you're in the right place. Explore the latest XSGD charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as XSGD, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as XSGD have been created as well.
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Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX TR does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX TR. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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