This article was added by the user . TheWorldNews is not responsible for the content of the platform.

S'pore stablecoin XSGD could see more adoption with improving tech, demand

XSGDs are minted, or created, once users deposit Sing dollars with Xfers in exchange for the equivalent in stablecoins. PHOTO: STRAITSX/FACEBOOK

SINGAPORE - The collapse of the Terra Classic blockchain and its Terra USD (UST) stablecoin earlier this month wiped out billions and eroded trust in cryptocurrency.

But fintech insiders remain convinced that stablecoins have a role to play in improving finance. They are confident the developing asset class will eventually be adopted by the market, once a safe and viable structure is found to support its use.

ST One Digital Package - Monthly

$9.90 $0.99/month

No contract

$0.99/month for the first 3 months, $9.90/month thereafter. T&Cs apply.

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • 2-week e-paper archive so you never miss out on any topic that matters to you