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StraitsX launched its Singapore Dollar-backed stablecoin, XSGD, marking its entry into the stablecoin market. The launch date is inferred from a 5-year anniversary announcement.

The smart contract for the StraitsX USD (XUSD) stablecoin was deployed on the Ethereum blockchain, marking the technical launch of the asset.

The Monetary Authority of Singapore (MAS) acknowledged XUSD as compliant with the country's upcoming stablecoin regulatory framework.