What is XSGD (XSGD)?
XSGD is a digital form of the Singapore Dollar created by StraitsX and powered by both – Ethereum and Zilliqa blockchains. It is 100% backed by its physical currency, SGD. This means the XSGD price will always be equivalent to the SGD price. XSGD comes in two token formats – ERC-20 and ZRC-2.
Each XSGD token is backed by one Singapore Dollar held in a Singapore bank. Besides, XSGD tokens can be exchanged directly for Singapore dollars on the platform. Overall, they provide fast, reliable, and affordable transactions through Ethereum and Zilliqa networks. The live XSGD price is displayed on the chart above.
Use Cases of XSGD Tokens
For starters, the main use case of XSGD crypto assets is transacting the Singapore Dollar across the blockchain. This means users can make global, instant, and low-cost transfers of Singapore Dollars without any intermediaries.
Moreover, XSGD tokens can be used in various DeFi protocols. This includes swapping the token or providing liquidity.
Lastly, XSGD coins can be moved across multiple blockchains and applications supported by StraitsX.
Note that, even though XSGD is a stablecoin, the XSGD price tends to fluctuate a bit. However, it still stays close to the SGD price.
Who Founded XSGD?
Xfers, a payments leader based in Singapore, is the issuer of XSGD tokens which are circulated through StraitsX. Having been granted the license of a Major Payment Institution by MAS (Monetary Authority of Singapore), Xfers has permission to produce an infinite amount of these digital assets in line with its e-money issuance framework.
XSGD Tokenomics
XSGD, being a stablecoin, has no maximum supply, or distribution schedule. This is because the tokens are minted as needed by users, and each token must be backed by a physical asset, in this case, the SGD fiat currency. You can always keep up with the live XSGD price on the chart above.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
5.74K
Followers: 5,742
0.41%
Following
65
3.17%
Posts count
733
0.97%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
-
Subreddit type
-
Moderators
-
Currently, official XSGD (XSGD) Reddit Stats account doesn't exist or wasn't submitted. 🔆 Submit Now
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
-
Title
-
Currently, official XSGD (XSGD) Telegram Stats account doesn't exist or wasn't submitted. 🔆 Submit Now
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
49 / 100
0.00%
Ahrefs Rank
741,578
2.14%
Organic Traffic (mo.)
6,282
23.51%
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
42
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
26
0.00%
Watchers
64
0.00%
Forks
10
0.00%
Language
JavaScript
XSGD hot topics
Currently, official XSGD Reddit account doesn't exist or wasn't submitted. 🔆 Submit Now
@straitsx posts