This article was first published on Request - Medium
Request supports XSGD, Digital Singapore Dollar, issued by Xfers
We’re pleased to announce our collaboration with StraitsX by Xfers to support their digital Singapore dollar, XSGD (ERC-20) as another currency available now on Request Invoicing.
The XSGD was introduced in October 2020, and since then their Singapore dollar-pegged stablecoin has gained notable traction with more than 60k of transaction volume and 500+ million of payment amount in XSGD so far, as mentioned on their website. They’ve been working hard with various partners to bring XSGD support to different applications-and we couldn’t be more excited to be a part of it.
This collaboration raises mutual benefits for Request, StraitsX by Xfers and the users of XSGD. Request gains more exposure to the Singaporean and Southeast Asian market in providing a way to create, store, and access invoices and receipts on the universal network built by Request.
Generally, any user can now issue invoices to request XSGD by using Request Invoicing. Companies and businesses who wish to accept XSGD as a form of payment can now provide their clients invoices in XSGD in a professional and compliant manner.
More than 300 businesses are already using the 9-month-old product, Request Invoicing, regularly. Notable companies in the blockchain industry including Maker, Gnosis, Aave, Ocean and Near foundation use Request to manage their financial flows, especially with inbound and outbound payments in cryptocurrencies.
Launched in October 2020, XSGD is backed 1:1 with the Singapore Dollar (SGD) and issued by Xfers, which holds a Major Payment Institution licence by the Monetary Authority of Singapore (MAS) for e-money issuance. XSGD is available on both the Ethereum (as an ERC-20 Token) and Zilliqa (as a ZRC-2 Token) blockchains and it is the largest stablecoin by market capitalization in Southeast Asia. XSGD enables transactions to be settled instantly 24/7 in ...
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Request - Medium