XSGD, issued by StraitsX SGD Issuance Pte. Ltd., is a fiat-backed stablecoin that tracks the Singapore dollar (SGD) on a 1:1 basis and is redeemable for the underlying currency. [S1][S2]

Each XSGD provides economic exposure to the Singapore dollar (SGD) at a fixed 1:1 peg, with each token backed by one Singapore dollar. [S3] The token is price-stable and pays no yield, NAV accrual, rebasing or distribution to tokenholders. [S2][S3] Redemption via the StraitsX Dashboard incurs a redemption fee plus an administrative fee of S$1 per redemption, with blockchain network fees borne separately by the holder. [S3]

StraitsX SGD Issuance Pte. Ltd. is a Singapore-incorporated private limited company regulated by the Monetary Authority of Singapore (MAS), holding a Major Payment Institution licence under the Payment Services Act 2019 and acknowledged as substantively compliant with MAS's Single-Currency Stablecoin framework. [S4][S5] Tokens are digital payment tokens, expressly not money, legal tender or monetary instruments, carrying a 1:1 redemption right. [S2] Reserve assets of at least 100% of par are held on trust in segregated accounts separate from the issuer, with DBS providing custody. [S2][S5] Users must be at least 18, complete KYC and AML onboarding, and pass sanctions screening. [S4]

XSGD is issued onchain across Ethereum (ERC-20), Polygon, Solana (SPL), Avalanche, Arbitrum, XRP Ledger, Hedera, Base and Zilliqa (ZRC-2). [S6] Tokens are minted 1:1 against fiat and issued within one Business Day of confirmed payment; Dashboard redemption settles by fiat transfer within five Business Days. [S3] Reserve adequacy is verified by monthly attestations from an ISCA-listed auditing firm. [S6]

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.straitsx.com/legal/purchasing-and-redemption" },
    { id: "S2", url: "https://www.straitsx.com/legal/token" },
    { id: "S3", url: "https://www.straitsx.com/legal/purchasing-and-redemption" },
    { id: "S4", url: "https://www.straitsx.com/legal/terms-and-conditions" },
    { id: "S5", url: "https://www.straitsx.com/blog-post/straitsx-secures-major-payment-institution-licenses-and-launches-xusd-stablecoin" },
    { id: "S6", url: "https://www.straitsx.com/xsgd" },
  ]}
/>


# Asset redemptions methodology

## 1. Overview

The total value of tokenized assets that are burned or returned to issuer-controlled addresses in exchange for offchain collateral assets is measured by the asset redemptions metric. User demand to exit asset positions and reclaim backing collateral is reflected by this metric. Daily redemption volumes are aggregated across all supported blockchains and converted to USD using end-of-day price feeds. A comprehensive view of capital outflows from tokenized assets is provided by this metric.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token burn instructions and balance changes
- **Non-EVM chain events**: Native token burn events, transaction net flows, and asset pallet events covering Algorand, Cardano, Injective, Near, Polkadot Asset Hub, Ripple, Stacks, Stellar, and Sui
- **Asset metadata**: Token addresses and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract raw redemption and burn events

- **Purpose**: Token destruction or return to issuer custody across all supported blockchains is identified.
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the recipient is the zero address or the dead address. On Solana, SPL token `Burn` instructions are parsed. On Algorand, token transfers to non-circulating configuration addresses (such as creator or reserve addresses) are extracted. On Cardano, negative token deltas are derived from transaction outputs and inputs. On Injective, token transfers with a burn event type are selected. On Near, token burn events are extracted. On Polkadot Asset Hub, `Burned` events from the assets pallet are parsed. On Ripple, transaction net flows that result in issuer inflows are identified. On Stacks, token transfers where the recipient address is null are parsed. On Stellar, SEP-41 `sep41_burn` events are extracted. On Sui, negative deltas are derived from total supply changes of treasury control objects.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (raw quantity)

### Component B: Apply premint corrections

- **Purpose**: Raw burn volumes are adjusted to exclude non-circulating token movements and include circulation exits.
- **Logic**: For supported assets, raw burn volumes are adjusted by subtracting preburns and adding premint redemptions. Preburns, which represent tokens burned directly from issuer-controlled premint addresses without ever entering circulation, are subtracted from the total. Premint redemptions, which represent transfers from circulating addresses back into premint addresses, are added to the total as they represent assets exiting active circulation.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (corrected quantity)

### Component C: Normalization and USD conversion

- **Purpose**: Token quantities are normalized by decimal precision and converted to USD.
- **Logic**: Daily token-denominated redemption amounts are aggregated by timestamp, chain, and token address. These amounts are normalized by decimal precision retrieved from token metadata. The normalized redemption amounts are then multiplied by end-of-day price feeds sourced from market data providers to calculate the final USD-denominated redemption value. If no redemptions occur on a given day, the daily value is filled with zero values.
- **Key fields**: `timestamp` (day), `chain_id` (blockchain identifier), `token_address` (asset contract address), `amount` (normalized token quantity), `price_usd` (asset price), `value` (USD-denominated redemption value)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of assets redeemed or burned for underlying collateral.

Asset redemptions

Stablecoins

StraitsX operates through partnerships with regulated financial institutions and maintains compliance with monetary authorities while issuing blockchain-native stablecoins backed by fiat reserves. The platform leverages multiple blockchain networks to provide interoperable payment infrastructure and generates revenue through transaction fees, institutional services, and API integrations with fintech partners and enterprises.

The project develops stablecoins and digital payment rails built on blockchain technology, focusing on facilitating cross-border payments and digital commerce in the ASEAN region. StraitsX operates regulatory-compliant digital currency solutions that bridge traditional finance with decentralized blockchain networks, enabling seamless fiat-to-crypto conversions and institutional-grade payment processing.

StraitsX is a Singapore-based fintech company that specializes in blockchain-based payment solutions and digital currency infrastructure for Southeast Asia.

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Stablecoin issuers

StraitsX

StraitsX Singapore Dollar (XSGD) is a Singapore Dollar stablecoin issued by StraitsX through StraitsX SGD Issuance Pte Ltd.

Each token is redeemable one-for-one for Singapore Dollar and is a direct claim on the issuer.

Reserves are held in segregated accounts within a bankruptcy-remote structure.

Custody of the reserves rests with CIMB Bank Berhad Singapore Branch, DBS Bank Ltd, and Standard Chartered Bank (Singapore) Ltd.

Retail investors and institutions can mint and redeem directly with StraitsX in SGD after completing KYC, and holders have a contractual right to redeem at par.

StraitsX SGD Issuance Pte Ltd is licensed as a payment institution in Singapore and is supervised by the Monetary Authority of Singapore (MAS).

Holder terms are governed by the law of Singapore.

XSGD has been issued on public blockchains since April 2020 and is native to 7 networks, including Ethereum, Polygon, Hedera, Avalanche, Arbitrum One, and XRP Ledger.

StraitsX Singapore DollarXSGD