PlatON, a blockchain for payments, has integrated XSGD and XUSD stablecoins, issued by StraitsX, onto its network.
This integration aims to build a more efficient and compliant cross-border clearing and settlement infrastructure. XSGD is pegged to the Singapore Dollar, and XUSD is pegged to the U.S. Dollar.
StraitsX has facilitated over U.S.$10 billion in on-chain stablecoin transactions. This collaboration with PlatON will offer scalable infrastructure for real-world applications at the institutional level.
PlatON, driven by the LatticeX Foundation, is developing a "payment highway" connecting traditional finance with the digital economy. The project utilizes solutions like MINT and RemiNet to upgrade stablecoins into clearing and settlement infrastructure.
Future enhancements include programmable payouts and merchant settlements. This partnership will equip XSGD and XUSD with high-performance infrastructure. This will enable merchants in Singapore and Hong Kong to process stablecoin payments securely.
PlatON and StraitsX plan to expand support for regional markets. They aim to promote the adoption of compliant payment infrastructure across Southeast Asia and global markets.