Standard Chartered named banking partner for StraitsX stablecoins

The partnership aims to enhance the reserve management of StraitsX’s stablecoins.

Standard Chartered Bank has been appointed as a trusted banking partner for StraitsX, a Singapore-licensed stablecoin issuer and digital payment infrastructure provider.

The partnership aims to enhance the reserve management of StraitsX’s stablecoins, XUSD (US Dollar) and XSGD (Singapore Dollar).

In addition, it also aims to strengthen the financial infrastructure required for secure, transparent, and scalable digital payment solutions.

Standard Chartered will provide essential cash management and custody services for the reserve assets backing XUSD and XSGD.

Additionally, the partnership aims to improve essential payment rails, facilitating seamless and secure access to stablecoins for both businesses and individuals.

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