Coinbase Shakes Up Stablecoin Market: AUDD and XSGD Go Global September 29
Global crypto giant Coinbase just dropped a bombshell that'll reshape the stablecoin landscape.
Breaking Down the Moves
The exchange confirms it's listing both AUDD and XSGD stablecoins across all supported jurisdictions starting September 29. This isn't just another token addition—it's a strategic play that brings Australian dollar and Singapore dollar-pegged assets directly to millions of traders worldwide.
Why This Matters
Think about it: traders can now access AUD and SGD exposure without traditional banking bottlenecks. These regulated stablecoins bypass currency conversion headaches while offering the speed and transparency only blockchain delivers. The timing couldn't be more perfect as traditional finance institutions still struggle with cross-border settlement times that feel downright prehistoric.
Market Impact
This dual listing signals Coinbase's aggressive expansion into Asia-Pacific markets while challenging the US dollar-dominated stablecoin ecosystem. Suddenly, regional currencies get prime-time exposure on one of the world's largest crypto platforms—and traditional banks are left watching from the sidelines as digital assets eat their lunch yet again.
Local stablecoins start gaining serious traction
The stablecoin market is blowing up. It crossed $250 billion in market cap by June 2025, which is a 50% jump from the previous year. In 2024, these tokens processed more than $30 trillion in transactions. And that number’s still climbing. Analysts now expect stablecoins could grow into a $2 trillion asset class in the next few years.
That growth is dragging in businesses too. In Coinbase’s State of Crypto report, 81% of crypto-aware small and mid-sized U.S. businesses said they want to start using stablecoins for payments. On top of that, the number of Fortune 500 companies looking into stablecoins has more than tripled since last year.
But almost everything onchain is still in U.S. dollars. About 60% of global currency reserves are held in USD, but 99% of stablecoins in circulation are pegged to it. That makes it hard for people outside of the U.S. to MOVE money in their own currencies. Local stablecoins like AUDD and XSGD aim to fix that gap. A survey by Ipsos for Coinbase found that over 70% of crypto owners in Australia and Singapore want local stablecoins they can actually use.
Coinbase says adding these tokens will help users avoid foreign exchange fees, reduce transfer friction, and give businesses a better way to settle cross-border payments. It’s also a way to localize product offerings in markets that matter. Coinbase said, “Local currency stablecoins are key to unlocking new opportunities for consumers and businesses in their day-to-day operations.”
AUDD and XSGD get real-world backing and government nods
The Australian Digital Dollar (AUDD) is issued by AUDC Pty Ltd. It’s fully backed by fiat reserves and redeemable 1:1 with the Australian dollar. It’s meant for institutions that want programmable finance with something more stable than volatile crypto tokens.
XSGD is issued by StraitsX, pegged to the Singapore dollar, and already got a greenlight from the Monetary Authority of Singapore (MAS). It’s compliant with the upcoming Single Currency Stablecoin (SCS) regulatory framework, making it one of the few local stablecoins that have passed a real regulatory check.
Both of these tokens are designed for more than just holding value. They’re being built into agentic commerce systems, setups where AI agents can spend stablecoins on data and services instantly and without needing approval. These are already being tested in both Australia and Singapore, giving these countries a leg up in real-world crypto usage.
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