cryptonews.net
PlatON, a blockchain network focused on payments, has announced the integration of two stablecoins — XSGD and XUSD — issued by StraitsX. XSGD is pegged to the Singapore Dollar, and XUSD is pegged to the U.S. Dollar. Both are fully backed 1:1 by reserves held in regulated financial institutions such as DBS Bank and Standard Chartered.
These stablecoins are now available on the PlatON Network, providing users and businesses with access to stable and programmable payment options. The integration supports various payment use cases across PlatON’s infrastructure.
StraitsX, the issuer of XSGD and XUSD, has processed over USD 10 billion in on-chain transactions. It serves as the native settlement layer behind both stablecoins. With this integration, the reach of StraitsX is extended to PlatON’s infrastructure, supporting scalable and compliant financial applications.
PlatON, developed by the LatticeX Foundation, is building the TOPOS network, which connects traditional financial systems to digital assets. It includes tools such as the MINT protocol, RemiNet, a stablecoin payment gateway, and self-custody wallets. The goal is to shift stablecoins from basic transfer functions to full clearing and settlement roles.
The partnership also includes future plans to enable programmable payouts, merchant settlement systems, and compliance integrations with partners such as Allinpayintl. This will support cross-border payments and local use of stablecoins in markets like Singapore and Hong Kong.
PlatON and StraitsX aim to expand support across Southeast Asia and other global markets, enabling stablecoin use in compliant and scalable payment systems.