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Ant International, Grab, StraitsX collaborate to enable cross border payments with Purpose Bound Money for local merchants

Ant International, Grab, and StraitsX (part of Fazz) have on Thursday announced a collaboration to look into the potential for Purpose Bound Money (PBM) to be applied to cross border payments. If successful, this advancement in cross border payment capabilities will expand PBM use cases with the aim of launching in Singapore in 2024.

Singapore’s StraitsX gets approval to issue single-currency pegged stablecoins

Singapore-based digital asset platform StraitsX has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) as major oayment institutions licensed for digital payment token services, for the purpose of issuing XSGD and XUSD respectively.

Singapore digital asset platform StraitsX launches rupiah-denominated stable coin

StraitsX has launched the StraitsX Indonesian Rupiah (XIDR), its second stablecoin in Southeast Asia (SEA). Each XIDR token is fully-backed by one Indonesian Rupiah and will be supported by partners in the StraitsX ecosystem.

Xfers’ digital assets platform StraitsX hits $1.48B in transactions in 2021

Adding on to this announcement is the unveiling of StraitsX’s new platform and identity. The new StraitsX platform features a redesigned and streamlined user interface to enable faster and more efficient navigation.