XSGD is a stablecoin pegged to the Singapore Dollar, backed by a reserve of Singapore Dollars, and runs on multiple blockchains including Ethereum, Polygon, Hedera, and Zilliqa. It is designed to provide a stable store of value and facilitate cross-border transactions with lower fees. XSGD is fully collateralized and can be used within various DeFi protocols and applications.
XSGD is a stablecoin pegged to the Singapore Dollar (SGD) and operates on multiple blockchain protocols, including Ethereum, Hedera, Polygon, and Zilliqa. It is designed to provide a stable store of value and can be used for various purposes:
Cross-Border Transactions: XSGD can be used to remove cross-border transaction fees, making it a more efficient and cost-effective option for international transactions.
DeFi Protocols and Apps: XSGD can be used within decentralized finance (DeFi) protocols and applications for trading and providing liquidity.
Digital Payments: It can be used as a means of payment for other digital assets and can be spent in real life at exclusive OTC rates with the Wirex card.
Stable Store of Value: As a stablecoin, XSGD is designed to withstand volatility, making it a reliable store of value.
B2B and Consumer Payments: In the future, XSGD is expected to be used for both business-to-business (B2B) and consumer payments.
Overall, XSGD offers a range of use cases that leverage its stability and the benefits of blockchain technology.
To store XSGD tokens, you can use wallets compatible with the blockchain protocols they run on. XSGD tokens are available on three blockchain protocols:
- Ethereum (ERC-20): Store with any ERC-20 compatible wallet.
- Polygon: Store with any Polygon-compatible wallet.
- Zilliqa (ZRC-2): Store with any ZRC-2 compatible wallet.
Additionally, StraitsX stores most of its XSGD in "cold" storage on offline hardware wallets and a small amount in "hot" wallets with a digital asset custodian for enhanced security.
To buy XSGD tokens, you can follow these steps:
Buying XSGD on Centralized Exchanges (CEX)- Choose a Centralized Exchange: Select a reliable CEX that supports XSGD trading, such as Coinstore or Indodax.
- Create an Account: Register and set up your account on the chosen CEX.
- Fund Your Account: Deposit fiat currency or other cryptocurrencies like USDT or BTC into your CEX account.
- Navigate to the XSGD Market: Find the XSGD market on the CEX and select it.
- Choose a Transaction Amount: Decide on the amount of XSGD you want to purchase.
- Confirm Purchase: Review and confirm your transaction details.
- Complete Transaction: Execute the purchase and wait for the XSGD to be credited to your CEX wallet.
- Choose a Decentralized Exchange: Select a DEX that supports XSGD trading, such as Uniswap or SushiSwap.
- Download and Set Up a Crypto Wallet: Download and set up a Web3 wallet like Metamask or a mobile wallet like Trust Wallet, ensuring it is supported by the chosen DEX.
- Transfer Base Currency: Purchase a base currency like ETH or BNB using fiat and transfer it to your crypto wallet.
- Connect Wallet to DEX: Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.
- Find the Swap Option: Locate the "Swap" option on the DEX and select the base currency as the "From" currency and XSGD as the "To" currency.
- Enter Amount and Confirm: Enter the amount you want to swap and review the details. Click the "Swap" button and confirm the transaction in your wallet.
- Monitor Transaction: Track your transaction on the blockchain explorer to ensure it is successful.
Remember to always be cautious of scams and ensure you are using the official contract address for XSGD.
