StraitsX Secures $10 Million for Stablecoin Expansion

StraitsX, the stablecoin payment platform, announced the completion of a $10 million financing round with UQPAY and NTT DOCOMO to expand its infrastructure across Asia.

The funding enhances StraitsX’s capability in stablecoin-fiat integrations and Web3 connectivity, signifying growing institutional trust in Asia’s regulated digital payments landscape.

Potential Boost in DeFi Adoption Across Asia

StraitsX aims to enhance stablecoin payments, fortifying connections between enterprises and Web3 platforms. The new funding will primarily target cross-border payment enhancements and infrastructure development. This initiative reflects growing confidence in regulated stablecoin networks within the Asian market.

XSGD, valued at $0.77 with a market cap of $16,918,124, is under scrutiny following recent funding efforts. Circulating supply stands at 21,962,760, with notable price declines over varying periods: 24-hour (-2.16%) and 90-day (-1.33%). Trading volume significantly decreased by 89.73% over 24 hours, per CoinMarketCap data.

“This investment from UQPAY reinforces StraitsX’s capability to power diverse cross-border payment scenarios, bridge stablecoin and fiat payment networks, and expand connectivity between enterprises, financial institutions, and Web3 ecosystems across Asia.” — StraitsX Team, Leadership, StraitsX Official Blog

Market Insights and Future Prospects

Did you know? StraitsX’s previous strategic partnerships positioned it as a leader in Southeast Asian payments, setting a precedent for its broader regional ambitions.

Coincu research indicates StraitsX’s expansion may accelerate stablecoin adoption in Asia, potentially influencing regional DeFi protocol integrations. Historical growth patterns support potential gains in liquidity and enterprise adoption as financial technologies evolve.

StraitsX’s strategic growth and investment in infrastructure are expected to enhance its role in the Asian financial landscape, fostering greater integration of digital assets with traditional finance.