StraitsX
StraitsX is a Singapore-headquartered, MAS-licensed Major Payment Institution that issues XSGD, XUSD, and XIDR stablecoins and operates a B2B payment infrastructure platform (StraitsX ON) for cross-border settlement, card issuance, and QR payments. It serves crypto exchanges (Binance, Coinbase, Bybit, OKX), banks (KASIKORNBANK, DBS), fintechs (RedotPay), and super-apps (Grab) across Asia.
- Company typePrivate
- Founded2020
- HeadquartersSingapore, Singapore
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What StraitsX does
StraitsX is a Singapore-headquartered stablecoin payment infrastructure provider founded in 2020 and licensed as a Major Payment Institution by the Monetary Authority of Singapore (MPI License PS20200475, PS20200656, PS20200657, PS20200658). The company issues three regulated stablecoins — XSGD (Singapore dollar, launched 2020), XUSD (US dollar, launched 2024), and XIDR (Indonesian Rupiah) — each fully backed by reserves held at tier-1 banks including DBS, Standard Chartered, and CIMB, with monthly independent attestations. XUSD is the first stablecoin to comply with MAS's Single Currency Stablecoin Framework, and XSGD is acknowledged by MAS as substantively compliant with the same framework, forming the regulatory backbone of the platform.
The core platform, branded as StraitsX ON, comprises four integrated modules — Accept and Send (fiat-to-stablecoin payment flows with DVA virtual accounts), Card Issuance (Visa/Mastercard-backed stablecoin card programs supporting Apple Pay, Google Pay, and Samsung Pay), QR Payments (interoperable cross-border QR acceptance), and Wallet (buy/sell/swap with OTC desk for trades above USD 100,000). DVA technology provides named virtual accounts enabling SWIFT USD and FAST SGD rails with 1:1 stablecoin settlement and automated reconciliation, including COBO/POBO treasury functions. The platform integrates with SWIFT, FAST, and multiple blockchain networks and supports USDC and USDT in addition to its own stablecoins.
StraitsX operates as a B2B infrastructure provider targeting crypto exchanges (Binance, Coinbase, Bybit, OKX), banks and payment institutions (KASIKORNBANK, DBS, Standard Chartered), fintechs and neobanks (RedotPay), and super-apps (Grab). Revenue is generated through transaction-based take rates: OTC trading spreads on high-volume stablecoin trades, swap fees, DVA settlement fees, and card program platform fees. Cumulative on-chain transaction volume has surpassed $29.5B since 2020, with transaction volume growing 40x and card issuance growing 83x between Q4 2023 and Q4 2024. Distribution spans API integrations for enterprise clients, exchange listings for retail access, white-label card issuance partnerships, and super-app integrations via Grab and KBank's cross-border QR network across Singapore, Thailand, Japan, Taiwan, and Indonesia.
StraitsX firmographics
Firmographics- Name
- StraitsX
- Legal name
- StraitsX Holdings Pte Ltd
- Website
- https://straitsx.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- StraitsX is a Singapore-headquartered, MAS-licensed Major Payment Institution that issues XSGD, XUSD, and XIDR stablecoins and operates a B2B payment infrastructure platform (StraitsX ON) for cross-border settlement, card issuance, and QR payments. It serves crypto exchanges (Binance, Coinbase, Bybit, OKX), banks (KASIKORNBANK, DBS), fintechs (RedotPay), and super-apps (Grab) across Asia.
- Ownership category
- akta.pro rank
StraitsX industry classification
Industry- Product category
- Stablecoin Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Securities and Commodity Exchanges (52321)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)
- akta.pro secondary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
Keywords
Where StraitsX is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
StraitsX business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- OTC Trading Services: High-volume over-the-counter stablecoin trading with minimum transaction size of USD 100,000. Revenue generated through bid-ask spreads and fixed bilateral pricing. Settlement within same business day.
- Stablecoin Swap Fees: Swap services between stablecoins (XSGD, XUSD, USDC, USDT) with transactions up to 200K per swap. Revenue derived from spread between exchange rates.
- DVA and Settlement Services: Dedicated virtual account services enabling USD deposits via SWIFT with XUSD 1:1 settlement. Revenue from settlement fees and account services for enterprise clients.
- Card Program Infrastructure: Stablecoin-backed card issuance platform allowing partners to launch cards with Apple Pay, Google Pay, Samsung Pay support. Revenue from platform fees and transaction processing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | OTC High-Volume Trading - Minimum USD 100,000 |
| Transaction based/ take rate | Pay-as-you-go | Swap Service - Up to 200K per transaction |
| Subscription | Multi-year contract | Platform and Enterprise Services |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
StraitsX product offering
Product offeringCore offering
StraitsX is a Singapore-headquartered Major Payment Institution that issues regulated, fully reserve-backed stablecoins (XSGD, XUSD, XIDR) and operates a B2B stablecoin payment platform. The platform provides APIs, dedicated virtual accounts, card issuance programs, cross-border QR payment acceptance, OTC trading, and a digital wallet, enabling enterprises, crypto exchanges, banks, and fintechs to move fiat and stablecoin value across borders in real time.
Product overview
StraitsX is a stablecoin-native payment platform and Major Payment Institution licensed by the Monetary Authority of Singapore. The platform operates as a unified ecosystem built around its core stablecoin products (XUSD, XSGD, XIDR) and the StraitsX ON open network. The product portfolio consists of three issued stablecoins serving as the settlement layer, combined with four integrated platform modules: Accept and Send (for fiat/stablecoin payment flows with DVA virtual accounts), Card Issuance (for stablecoin-backed card programs via Visa/Mastercard), QR Payments (for interoperable cross-border QR acceptance), and StraitsX Wallet (for retail buy/sell/swap). Enterprise services include StraitsX OTC for high-volume trades and StraitsX DVA for dedicated virtual account treasury management. All components interconnect to enable real-time, FX-transparent cross-border settlement and programmable stablecoin rails across Asia.
Differentiator
Problem solved
Functional benefit
Brands
- XSGD: Singapore dollar-pegged stablecoin issued by StraitsX, fully backed by reserves held at DBS and Standard Chartered.
- XUSD
- XIDR
- StraitsX ON
- StraitsX DVA
- StraitsX OTC
- StraitsX Swap
- StraitsX Earn
Products and services
- XSGD Singapore dollar-denominated stablecoin issued by StraitsX SGD Issuance Pte Ltd, fully backed 1:1 by reserves at DBS and Standard Chartered. Acknowledged by MAS as substantively compliant with the Single Currency Stablecoin Framework.
- XUSD US dollar-denominated stablecoin issued by StraitsX USD Issuance Pte Ltd, fully backed by reserve assets at tier-1 banks. The first stablecoin to comply with the MAS Single Currency Stablecoin Framework.
- XIDR Indonesian Rupiah-backed stablecoin enabling IDR-denominated digital transactions and payouts on the StraitsX platform.
- Card Issuance Platform Stablecoin-backed card issuance platform enabling businesses to launch card programs across Asia with banking access, stablecoin settlement, and scheme-ready infrastructure (Visa/Mastercard) supporting Apple Pay, Google Pay, and Samsung Pay.
- Accept and Send Fiat and stablecoin payment acceptance and payout platform featuring multi-currency settlement, dedicated virtual accounts (DVA), SWIFT USD rails with 1:1 XUSD settlement, and global payouts via SWIFT, local rails, or stablecoin.
- QR Payments Cross-border QR payment acceptance network enabling interoperable transactions across wallets and merchants, with built-in stablecoin settlement layer and support for acquirers, POS, and QR display formats.
- StraitsX Wallet Digital wallet supporting buy, sell, and swap of stablecoins including XUSD, XSGD, USDC, and USDT. Features transactions up to 200K per swap with no additional fees, and support for multiple blockchain networks.
- StraitsX OTC Over-the-counter desk for high-volume stablecoin trades with minimum transaction size of USD 100,000. Features deep liquidity, competitive market rates, personalized support, and same-business-day settlement with fixed bilateral pricing.
- StraitsX DVA (Dedicated Virtual Accounts) Named bank accounts issued in the name of legal entities enabling automated reconciliation and professional treasury management, with SWIFT USD rails for 1:1 XUSD settlement and FAST for SGD, supporting COBO/POBO capabilities.
Quantifiable outcome
- Over $29.5 billion in combined transaction volume since 2020
- +3 more outcomes
Companies that use StraitsX
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
StraitsX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
Feature6 records
StraitsX partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered strategic, major, flagship and core.
- Singapore Police ForcestrategicPublic-private partnership for anti-scam operations. StraitsX collaborated with Singapore Police Force Anti-Scam Centre and Cyber Investigation Branch to prevent cryptocurrency scam losses using blockchain analytics.
- OKXmajorOKX Card launched in Singapore using StraitsX for compliant stablecoin-to-fiat conversion. OKX Pay integration enables stablecoin payments at GrabPay merchants via SGQR with zero FX markups.
- KASIKORNBANK (KBank)flagshipExpansion of KBank Q Wallet to enable Thailand-Singapore cross-border payments via blockchain settlement. Q-money interoperates with XSGD stablecoin using Quarix blockchain infrastructure. MAS BLOOM initiative participant.
- Solana FoundationstrategicPlanned launch of XSGD and XUSD stablecoins on Solana blockchain by 2026 to enhance transaction settlement capabilities and support growing digital commerce demand.
- UPaystrategicPartnership to develop infrastructure for stablecoin payments. UPay integrates StraitsX settlement layer into payment ecosystem enabling stablecoin usage for daily transactions globally.
- GrabflagshipMOU signed to develop Web3 wallets and stablecoin-based settlement layer across Asia. Enables GrabPay merchants to accept stablecoin payments for cross-border clearing and settlement. Integration of digital asset wallets within Grab app.
- RedotPaymajorCrypto payment cards launched in South Korea through Visa partnership. StraitsX provides compliant stablecoin payment infrastructure enabling users to spend digital assets at Visa merchants worldwide.
- DBS BankcoreTier-1 banking partner for reserve asset custody and fiat banking rails. DBS holds reserves backing XSGD and XUSD stablecoins at 100% coverage.
- Standard CharteredcoreTier-1 banking partner providing reserve custody and banking infrastructure. Co-issuer of XSGD stablecoin reserves alongside DBS.
- BybitflagshipDVA (Dedicated Virtual Accounts) enabling SWIFT USD deposits and withdrawals with 1:1 XUSD settlement. Simplified reconciliation, faster crediting, and direct XUSD trading pairs including XUSD/BTC.
- BinancemajorXUSD listed on Binance exchange. Users can trade XUSD directly against BTC and other pairs, expanding retail access to Singapore dollar-backed stablecoin ecosystem.
- BitGocoreExternal custodian for StraitsX Tokens and Non-StraitsX Tokens held in trust accounts on behalf of users. Custodial Safeguarding Person for digital asset custody.
- ChainalysisstrategicBlockchain analytics firm providing analytical tools for Singapore Police Force anti-scam operations. StraitsX participated in coordinated enforcement action using Chainalysis tools.
- TRM LabsstrategicBlockchain analytics firm supporting Singapore Police Force anti-scam operations. Partnered alongside Chainalysis for transaction monitoring and scam prevention.
- MastercardmajorMastercard Crypto Partner Program connecting digital assets to global payments. StraitsX participates in program bridging on-chain innovation with conventional payment infrastructure.
- CoinbasemajorXSGD launched on Coinbase exchange in September 2025 giving global access to Singapore dollar-backed stablecoin. Fully backed 1:1 by reserves held with DBS and Standard Chartered.
- Orbix Technology (KBank Financial Conglomerate)strategicDeveloper of Quarix blockchain infrastructure used for KBank Q Wallet cross-border payments. StraitsX connects Q-money to XSGD stablecoin for real-time settlement.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
StraitsX competitors and assessment
Company assessmentBroad incumbents
- Circle: Circle is the issuer of USDC, the largest regulated USD stablecoin, and operates comparable cross-border payments and treasury APIs. It is a broader incumbent than StraitsX given its global scale, but directly comparable as a regulated stablecoin issuer with enterprise infrastructure.
- Tether: Tether (USDT) is the largest stablecoin issuer globally. While not directly comparable in regulatory positioning, it is a benchmark incumbent competing for liquidity, exchange listings, and cross-border payment use cases that StraitsX also targets.
- Ripple: Ripple operates the RLUSD stablecoin and Ripple Payments cross-border payments network targeting banks and payment institutions — directly aligned with StraitsX's MAS BLOOM-aligned cross-border settlement strategy with banks like KBank.
Direct peers
- Paxos: Paxos issues regulated stablecoins (USDP, PYUSD) and provides enterprise-grade digital asset infrastructure, including custody and tokenization services. It is a close comparable to StraitsX given its focus on regulated stablecoin issuance and institutional API services.
- BVNK: BVNK provides stablecoin payment infrastructure for businesses, including on/off ramps, settlement APIs, and cross-border payouts. It is directly comparable to StraitsX in B2B stablecoin payment infrastructure targeting enterprises and fintechs.
- Alchemy Pay: Alchemy Pay operates a crypto payment gateway enabling merchants to accept crypto and stablecoins via fiat on/off ramps. It is a direct peer to StraitsX's Accept-and-Send and QR Payments products, targeting similar merchant and platform integrations.
- Triple-A: Triple-A is a regulated crypto payment gateway that enables businesses to accept and make stablecoin payments. It is directly comparable to StraitsX's API-first payment infrastructure model with similar B2B targeting.
- MoonPay: MoonPay provides fiat on/off ramps and payment infrastructure for crypto and stablecoins, serving exchanges, wallets, and merchants. It is comparable to StraitsX's Accept-and-Send and Wallet products as a developer-first B2B payment API provider.
- Transak: Transak provides fiat-to-crypto on/off ramp and payment processing APIs for wallets, dApps, and exchanges. Comparable to StraitsX's fiat-to-stablecoin settlement APIs and card issuance infrastructure for similar B2B clients.
Emerging players
- Fireblocks: Fireblocks provides institutional digital asset custody, settlement, and tokenization infrastructure. While more focused on custody than payments, it serves the same institutional client base and powers similar on-chain workflows.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
StraitsX social profiles
Digital presenceStraitsX compliance and trust
Trust signalCompliance3 records
StraitsX financial estimates
Financial estimateRevenue estimate
Valuation estimate
StraitsX leadership team
Management profileNumber of profiles
Profiles1 record
StraitsX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
StraitsX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about StraitsX
What does StraitsX do?
StraitsX is a Singapore-headquartered Major Payment Institution that issues regulated, fully reserve-backed stablecoins (XSGD, XUSD, XIDR) and operates a B2B stablecoin payment platform. The platform provides APIs, dedicated virtual accounts, card issuance programs, cross-border QR payment acceptance, OTC trading, and a digital wallet, enabling enterprises, crypto exchanges, banks, and fintechs to move fiat and stablecoin value across borders in real time.
Is StraitsX a public or private company?
StraitsX is a private company. It is classified as venture growth investor backed and is currently operating.
When was StraitsX founded?
StraitsX was founded in 2020. It employs 101 to 250 people.
Where is StraitsX based?
StraitsX is headquartered in Singapore, Singapore, in the Asia region.
How does StraitsX make money?
Four revenue lines are on record. OTC Trading Services are the primary driver. The others are stablecoin Swap Fees, DVA and Settlement Services and card Program Infrastructure.
Who are StraitsX's main competitors?
Broad incumbents on record are Circle, Tether and Ripple. Direct peers are Paxos, BVNK, Alchemy Pay, Triple-A, MoonPay and Transak. Fireblocks is listed as an emerging player.
Does StraitsX have an API?
Yes. StraitsX offers API integration capabilities enabling platform users to integrate its payment services. Features include plug-and-play API integration for receiving funds via dedicated virtual accounts, automated reconciliation, and API integration for treasury operations. The platform provides StraitsX Dashboard accessible at app.straitsx.com and biz.straitsx.com for account management. Developer documentation is at docs.straitsx.com.
What industry is StraitsX in?
StraitsX's product category is Stablecoin Payment Infrastructure. Its primary akta.pro industry code is BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms, with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 522320 and its SIC code is 6199.