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PlatON, a blockchain network focused on payments, has announced the integration of StraitsX’s stablecoins XSGD and XUSD onto its platform. XSGD is pegged to the Singapore Dollar and XUSD to the US Dollar, with both coins fully backed 1:1 by reserves held with regulated financial institutions. XSGD’s reserves are held with DBS Bank and Standard Chartered, while XUSD’s are held with US-based regulated entities.
The move is positioned as a step towards building a more efficient and compliant cross-border stablecoin clearing and settlement infrastructure, targeting global merchants, financial institutions, and digital asset developers. With both stablecoins now live on the PlatON Network, users and enterprises gain access to stable, programmable value transfer across PlatON’s high-performance infrastructure, enabling a broader range of payment scenarios.
StraitsX, which serves as the stablecoin-native settlement layer for XSGD and XUSD, has processed over US$10 billion in on-chain stablecoin transactions to date. The company enables seamless value movement across networks, borders, and platforms. The integration with PlatON extends this reach by offering scalable and compliant infrastructure to support real-world applications at the institutional level.
Initiated and driven by the LatticeX Foundation, PlatON is developing what it calls a “payment highway” connecting traditional finance with the digital economy via the TOPOS payment clearing network. The network leverages solutions such as MINT, RemiNet, a Stablecoin Payment Gateway, and self-custody wallets to create a compliant, stable, and open multilateral clearing network. The aim is to upgrade stablecoins from simple transfer tools to comprehensive clearing and settlement infrastructure.
The collaboration is also intended to pave the way for future enhancements focused on institutional-grade use cases. According to the announcement, “Future phases of the long term partnership will include exploration of programmable payouts, merchant settlements, and seamless compliance integrations with licensed acquiring partners like Allinpayintl.” The partnership is expected to equip XSGD and XUSD with a high-performance underlying infrastructure, allowing for comprehensive processing from stablecoin issuance to cross-border payments and local consumption.
This integration enables merchants in financial hubs such as Singapore and Hong Kong to process stablecoin payments securely, conveniently, and in compliance with local regulations. Looking ahead, PlatON and StraitsX plan to expand support for regional markets, with the goal of promoting the adoption of programmable, compliant payment infrastructure across Southeast Asia and global markets.
The collaboration is part of PlatON’s ongoing efforts to build an open, interoperable financial network to support digital assets in real-world use cases.
