StraitsX
StraitsX (Xfers Pte. Ltd.)
StraitsX is the issuer of the XSGD (pegged to the Singapore dollar) and XUSD (pegged to the US dollar) stablecoins and provides stablecoin payment rails for real-world use cases. It operates under a MAS Major Payment Institution licence in Singapore (PS20200475): XSGD is the first SGD stablecoin acknowledged by MAS as substantively compliant with the Single-Currency Stablecoin framework, and XUSD has also been acknowledged as compliant. Reserves are held at no less than 100% of the outstanding supply, with custody and cash management in partnership with DBS and independent external audits.
Data & conditions
| Account fee | Not disclosed |
|---|---|
| ATM withdrawal | Free |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | APAC |
| Regulator | Monetary Authority of Singapore (MAS) |
| OAM Italy registration | No |
| Segment | B2B, B2C |
| MiCA / License status | MAS Major Payment Institution (Licence PS20200475) MAS Major Payment Institution; XSGD and XUSD acknowledged by MAS as compliant with the Single-Currency Stablecoin (SCS) framework |
Strengths
- MAS-regulated issuer with a Major Payment Institution licence
- XSGD and XUSD acknowledged as compliant with the MAS stablecoin framework
- Reserves at no less than 100%, custody with DBS and independent external audits
- No notable sovereignty advantage documented.
Weaknesses
- Geographic focus on Singapore/APAC; not available in Italy
- Niche (SGD) stablecoin with smaller adoption than USDC/USDT
- Service oriented to business and payments, not general consumer use
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (MAS Major Payment Institution; XSGD and XUSD acknowledged by MAS as compliant with the Single-Currency Stablecoin (SCS) framework): reporting to authorities and freezes on order.
Verdict
Score 4.1/5, very strong profile. In its favour: mAS-regulated issuer with a Major Payment Institution licence. The trade-off to weigh: geographic focus on Singapore/APAC; not available in Italy.
On the Sovereignty lens the score is 0.6/5 (weak): the strength is censorship resistance (1.5/5), while privacy & anonymity (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Who issues XSGD and how is it backed?
It is issued by StraitsX, regulated by the MAS in Singapore. It is pegged 1:1 to the Singapore dollar, with reserves held at no less than 100% of the outstanding supply, custodied in partnership with DBS and verified by independent external audits.
Is StraitsX available in Italy?
StraitsX's activity is centred on Singapore and the APAC region under MAS regulation. It is not a service designed for the Italian market.
Sources
- straitsx.com Descrizione · Prodotto · Stablecoin · XUSD Data verified on Jul 17, 2026
- support.straitsx.com Data verified on Jul 17, 2026