In June 2025, StraitsX released attestation reports for XUSD and XSGD, confirming their 1:1 fiat backing and compliance with Singaporean regulations.
Confirmation of Fiat Backing and Compliance
The attestation reports for XUSD and XSGD, conducted by certified public accountants, affirm their 1:1 fiat backing and adherence to regulatory standards. These reports were prepared following the standards of the Institute of Chartered Accountants in Singapore.
Growing Use of XUSD and XSGD in Financial Workflows
The integration of XUSD and XSGD into treasury workflows is increasing, driven by the adoption of stablecoins for fiat-to-stablecoin exchanges. Historical trends indicate stability with no significant fluctuations in total value locked, reflecting confidence in the attestation results.
The Role of Transparency and Compliance in Market Stability
Monthly attestation cycles since inception have consistently reaffirmed the stablecoins’ 1:1 reserve status. This transparency has maintained trust, ensuring resilience in the face of market volatility.
The attestation reports for XUSD and XSGD highlight the importance of regulatory compliance and transparency in ensuring stability and trust among users and investors.
