HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Wednesday that the StraitsX Singapore Dollar (XSGD) stablecoin has launched on the Hedera network. Thanks to this latest development, users can leverage the StraitsX platform to send and receive XSGD on the Hedera network.
XSGD on Hedera offers the benefits of a Southeast Asian fiat-backed stablecoin to end-users and applications built on the Hedera network, enabling instant cross-border settlement, with high transaction scalability and low, predictable transaction fees.
Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0509 at press time, down by 1% over the last 24 hours.