XSGD is the fully collateralized Singapore Dollar stablecoin, powered by open-source blockchain protocols. XSGD is backed one for one with Singapore Dollar.
All balances in your StraitsX account will be reflected as XSGD.
When you make a Singapore dollar transfer into your StraitsX account, we will reflect your balance as XSGD. Similarly, when you make a request to transfer XSGD out to your bank account, we will send an equivalent amount of Singapore dollars to your bank account.
XSGD tokens will always be redeemable one for one with SGD on the StraitsX platform.
No fee will be incurred when SGD is converted to XSGD and vice versa.