Coinbase Shakes Up Crypto: AUDD and XSGD Stablecoins Launch September 29, Challenging Dollar Dominance

Coinbase throws down the gauntlet against dollar hegemony with dual stablecoin deployment.

Breaking the Greenback's Grip

The crypto giant's September 29 rollout of Australian dollar-pegged AUDD and Singapore dollar-denominated XSGD marks a strategic pivot toward multi-currency diversification. This move directly confronts the US dollar's overwhelming presence in digital asset markets.

Global Liquidity Reimagined

Traders gain instant exposure to APAC currencies without traditional banking bottlenecks. The platform's infrastructure bypasses legacy forex systems—cutting settlement times from days to seconds while slashing cross-border transaction costs.

Regulatory Chess Match

Coinbase's play coincides with escalating global currency competition. By anchoring digital assets to stable non-USD currencies, the exchange navigates geopolitical tensions while offering investors sanctuary from dollar volatility.

Just don't tell the Federal Reserve—they still think stablecoin dominance is something they can regulate with century-old banking frameworks.

Coinbase is taking a major step to make crypto feel more familiar to everyday users. It announced that it will add two fiat-backed stablecoins, the Australian dollar-based (AUDD) and the Singapore dollar-backed (XSGD) to its trading platform starting September 29, 2025, at 19:00 UTC.

For Coinbase, this isn’t just another token listing, it’s part of a bigger plan to bring a billion people into crypto by letting them transact in the money they already know and use.

Coinbase to List AUDD and XSGD Stablecoins

Through a blog post, Coinbase reveals that AUDD is issued by AUDC Pty Ltd, fully backed 1:1 by Australian dollar reserves. Meanwhile, XSGD, developed by StraitsX, is tied to the Singapore dollar and recognized by the Monetary Authority of Singapore (MAS).

It also fits into Singapore’s new Single Currency Stablecoin regulatory framework, a rare case of crypto tokens aligning neatly with government rules.

However, this MOVE significantly reduces friction for Australians and Singaporeans converting between fiat and crypto. 

Coinbase is listing two new local stablecoins:

AUDD
XSGD

Local stablecoins will drive local crypto business growth and help to onboard many more new people to crypto. pic.twitter.com/ZFDX1y4A5O

According to an Ipsos survey commissioned by Coinbase, over 70% of crypto holders in these countries want local stablecoins they can actively use, addressing both day-to-day and cross-border payment needs.

How Users Will Benefit

• Direct 1:1 conversion of AUD → AUDD and SGD → XSGD on Coinbase, no forex fees.
• Access to multi-currency liquidity pools, including XSGD/USDC on Aerodrome Finance.
• Wider adoption of local stablecoins in payments, settlements, and DeFi use cases.
• Regulatory clarity for XSGD, one of the few stablecoins with official approval in Southeast Asia.

Breaking Away from the Dollar Grip

The stablecoin market has exploded, hitting $250 billion in value this year after processing more than $30 trillion in transactions in 2024. But here’s the catch: nearly all of it runs on the U.S. dollar. 

That leaves people outside the U.S. paying extra for conversions and missing out on the convenience of transacting in their own money.

Coinbase wants to change that. With AUDD and XSGD, users in Australia and Singapore will soon be able to convert their local dollars into these stablecoins on Coinbase without paying fees.