Coinbase Shakes Up Asian Markets with StraitsX’s First-Ever SGD Stablecoin Launch

Digital finance just got a Singaporean upgrade—Coinbase partners with StraitsX to bridge traditional finance with crypto liquidity.

Breaking Down the Stablecoin Play

StraitsX's SGD-pegged stablecoin marks Southeast Asia's first major fiat-backed digital asset on a global exchange. The move bypasses traditional banking corridors, letting users swap Singapore dollars for crypto without intermediaries.

Why This Changes the Game

Singapore’s monetary authority keeps tight reins on digital assets—but this launch signals institutional confidence. Traders gain direct SGD exposure without jumping through banking hoops. Liquidity pools deepen. Arbitrage opportunities multiply.

The Cynical Take

Because what’s finance without a little skepticism? Banks will call it disruptive—until they launch their own stablecoins next quarter.

Bottom line: Coinbase isn’t just expanding its stablecoin roster—it’s carving a path for Asia’s next crypto wave.

How will Coinbase users access XSGD?

Starting from September 29, users will be able to directly convert Singaporean dollars into XSGD stablecoins on a one-to-one ratio through Coinbase and other decentralized exchanges on the Base ecosystem. Users will also be able to exchange different currencies and assets into XSGD through liquidity pools.

XSGD will serve as a new fiat-based alternative to the dominating USD-based stablecoins already on the market. The SGD-backed token will enable individuals and businesses in Singapore to transact and manage digital assets in their local currency. The collaboration also aims to mitigate currency risk and foreign exchange volatility.

Moreover, having access to XSGD on Base will grant users and builders the ability to unlock a variety of use cases, including usage of the stablecoin to activate AI agents, purchase digital art, as well as acquiring ‘real-world assets’ such as collectible items linked to NFTs, and powering on-chain transactions.

Country Director of Coinbase Singapore, Hassan Ahmed, said that the launch of XSGD on Coinbase is aimed at maximizing stablecoin adoption in order to change how cross-border payments are made. Thus, increasing global economic freedom.

“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,” said Ahmed in his statement.