StraitsX is a leading digital payment infrastructure provider in Southeast Asia, specializing in the issuance of stablecoins and offering seamless access to digital asset markets for individuals and businesses. As a licensed Major Payment Institution by the Monetary Authority of Singapore (MAS), StraitsX is committed to enhancing financial inclusion and interoperability between traditional finance and the digital economy.
Key Strategic Focus
StraitsX's strategic objectives center on providing secure, transparent, and scalable digital payment solutions. The company issues stablecoins such as XSGD (pegged to the Singapore Dollar), XUSD (pegged to the U.S. Dollar), and XIDR (pegged to the Indonesian Rupiah), each fully backed by their respective currencies held in licensed financial institutions. These stablecoins are designed to facilitate efficient cross-border transactions and integration with decentralized finance (DeFi) applications. StraitsX's APIs enable businesses to accept payments and make payouts in stablecoins, supporting multi-chain compatibility across Ethereum, Polygon, Avalanche, Hedera, and Zilliqa networks.
Financials and Funding
In March 2021, StraitsX's parent company, Xfers, received a US$30 million investment from Indonesian fintech startup PAYFAZZ, leading to the formation of Fazz Financial Group (FFG). This strategic partnership aims to enhance financial services across Southeast Asia. By October 2021, StraitsX had processed over SGD 2 billion in digital asset-related transactions, reflecting significant growth and adoption of its services.
Technological Platform and Innovation
StraitsX distinguishes itself through its proprietary stablecoin infrastructure and API solutions. The company's stablecoins are fully backed and redeemable on a one-for-one basis with their respective fiat currencies, ensuring transparency and trust. StraitsX's APIs offer ready-built solutions for businesses to collect, disburse, and reconcile funds efficiently. The platform's multi-chain support enhances transaction speed, scalability, and cost-efficiency, catering to a diverse range of digital asset platforms and DeFi applications.
Leadership Team
- Kenny Chan: Head of StraitsX
- Liu Tianwei: Deputy CEO of Fazz
- Samson Leo: Chief Legal Officer of Fazz
- Victor Liew: Chief Information Security Officer of Fazz
These leaders bring extensive experience in fintech, legal, and information security domains, driving StraitsX's mission to enhance access to digital assets in Asia and beyond.
Competitor Profile
Market Insights and Dynamics: The stablecoin market is experiencing rapid growth, driven by increasing demand for secure and efficient digital payment solutions. Southeast Asia, with its burgeoning digital economy, presents significant opportunities for stablecoin adoption, particularly in cross-border transactions and DeFi applications.
Competitor Analysis: Key competitors in the stablecoin and digital payment infrastructure space include:
- Tether (USDT): The largest stablecoin by market capitalization, widely used for trading and remittances.
- Circle (USDC): A U.S.-based stablecoin issuer known for regulatory compliance and transparency.
- Binance (BUSD): Offers a stablecoin pegged to the U.S. Dollar, integrated within the Binance ecosystem.
These competitors focus on providing stable digital currencies for various applications, including trading, remittances, and DeFi.
Strategic Collaborations and Partnerships
StraitsX has established significant partnerships to strengthen its market position and innovation capacity:
- Standard Chartered: In February 2025, StraitsX partnered with Standard Chartered to enhance the reserve management of its stablecoins, providing robust cash management and custody services.
- Circle: In November 2022, StraitsX collaborated with Circle to enable its users to deposit and receive USDC, expanding access to one of the fastest-growing stablecoins globally.
These partnerships underscore StraitsX's commitment to providing secure and transparent digital payment solutions.
Operational Insights
StraitsX's strategic considerations include:
- Regulatory Compliance: Operating as a licensed Major Payment Institution under MAS, ensuring adherence to regulatory standards.
- Technological Integration: Offering multi-chain support and API solutions to facilitate seamless integration with various digital asset platforms.
- Market Expansion: Focusing on Southeast Asia's growing digital economy to drive adoption of stablecoins and digital payment solutions.
Strategic Opportunities and Future Directions
StraitsX's strategic roadmap includes:
- Product Diversification: Expanding the range of stablecoins and digital payment solutions to cater to diverse market needs.
- Geographical Expansion: Extending services beyond Southeast Asia to tap into emerging markets with growing digital economies.
- Technological Innovation: Investing in blockchain technology and API development to enhance transaction efficiency and security.
By leveraging its current strengths and strategic partnerships, StraitsX is well-positioned to achieve its future objectives in the digital payment infrastructure landscape.
Contact Information
- Website: StraitsX
- Facebook: StraitsX
- LinkedIn: StraitsX
- Twitter: StraitsX
