Coinbase has announced a partnership with StraitsX to launch XSGD, the world’s first Singapore dollar–backed stablecoin, on its platform. The token, recognized by Singapore’s Monetary Authority (MAS) as compliant with the country’s upcoming stablecoin framework, will be available to users starting September 29, 2025, at 19:00 UTC.
XSGD Comes to Coinbase and Base
With this rollout, Coinbase and Coinbase Advanced users will be able to directly convert Singapore dollars into XSGD at a one-to-one ratio. The stablecoin will also be issued on Ethereum Layer-2 Base, giving users access to decentralized exchanges (DEXs) and broader on-chain liquidity.
This makes XSGD not only a first for Singapore but also a major step toward diversifying stablecoin options globally, where USD-backed tokens have long dominated.
Joint Liquidity Pools and DeFi Integration
As part of the partnership, Coinbase and StraitsX will launch joint liquidity pools, including a key XSGD/USDC pool on Aerodrome Finance, Base’s main liquidity hub. Liquidity incentives will be supported by both Aerodrome and the Base ecosystem to encourage adoption and trading.
This setup will allow users to seamlessly swap between stablecoins of different currencies, expanding global financial access and reducing reliance on single-currency models.
Why XSGD Matters
The SGD-backed stablecoin offers a new fiat-based alternative for both individuals and businesses in Singapore. By transacting in their local currency, users can reduce currency risk and foreign exchange volatility a common challenge when relying solely on USD-based stablecoins.
Beyond payments, Coinbase notes that XSGD will open new use cases on Base, including:
- Powering AI agents and automated services.
- Buying digital art and collectibles linked to NFTs.
- Unlocking access to real-world assets on-chain.
- Facilitating faster and cheaper cross-border payments.
A Push for Global Adoption
Hassan Ahmed, Country Director of Coinbase Singapore, emphasized that the partnership is part of Coinbase’s mission to expand financial freedom globally:
“With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet.”
Bottom Line
Coinbase’s integration of XSGD marks a milestone for Singapore’s digital asset ecosystem. Backed by regulatory compliance and supported by Base’s expanding DeFi infrastructure, the SGD stablecoin could reshape how people and businesses interact with money—both locally and globally.
