Singapore Dollar stablecoins (SGD)
1 stablecoin pegged to the Singapore dollar, from 1 issuer. Supply is read directly from the contracts DIA verified.
FX turnover share is one side of a currency trade, so all currencies' shares sum to 200% by BIS convention. Reserve and invoicing shares are only published for a handful of currencies; a dash means that source does not break SGD out individually, not that its share is zero.
Net new SGD supply
Change in the circulating supply of the 1 of 1 SGD coins counted here, as reported by aggregated market data. Both endpoints come from that source, so the dollar figure is a statement about it, not about the onchain supply DIA reads from the contracts, which is a different measurement of the same bloc. Coins that appeared part-way through a window are excluded, so this is supply added by coins that existed throughout rather than by the arrival of new ones.
Why this currency
The Monetary Authority of Singapore finalised its framework for single currency stablecoins on 15 August 2023, and XSGD is the one Singapore dollar coin on this map. The XSGD whitepaper states that the issuer holds a Major Payment Institution licence for digital payment token service and has been acknowledged by MAS to be compliant with the upcoming single-currency stablecoin (SCS) regulatory framework.
That makes this a small market with a long documentary record. The reason to read this page is to see what a Singapore dollar stablecoin publishes about its reserves, and what a signed accountant's report on those reserves does and does not cover.
Sources: StraitsX XSGD, StraitsX XSGD whitepaper V1.1, MAS, stablecoin regulatory framework finalised, 15 August 2023
Market structure
One coin, one issuer. XSGD is issued by StraitsX SGD Issuance Pte. Ltd., which is a distinct legal person from the StraitsX group brand and from Xfers Pte. Ltd., the affiliated entity the whitepaper names alongside it.
The StraitsX XSGD page lists the reserve reports, from January 2022. StraitsX describes the cadence as twice monthly, with reporting dates typically covering the 15th and the end of each month, and the whitepaper says audits are performed twice a month. The listed series is monthly through 2024 and twice monthly from 2025. Density matters here in a way it does not for most coins: because the reporting dates follow a fixed pattern and the archive is dense, a missed report would show as a gap in the list rather than merely be suspected.
Sources: StraitsX XSGD, reserve report list, StraitsX XSGD whitepaper V1.1
Regulation
Singapore's Monetary Authority published its stablecoin framework on 15 August 2023. It applies to single currency stablecoins pegged to the Singapore dollar or a G10 currency and issued in Singapore. An issuer must meet four sets of requirements: reserve assets with rules on composition, valuation, custody and audit; minimum base capital and liquid assets; redemption at par within five business days; and disclosure to users.
Only an issuer that meets all of them can apply to have its stablecoin labelled a MAS-regulated stablecoin. MAS says misrepresenting a token as MAS-regulated can bring a financial penalty or imprisonment.
On 1 September 2026 MAS opened a consultation on amendments to the Payment Services Act 2019 to put the framework into law. It closes on 16 October 2026. The draft covers recognition of foreign issued stablecoins, stress testing and wind-down plans.
Sources: MAS, stablecoin regulatory framework finalised, 15 August 2023, MAS, consultation on legislative amendments for stablecoins, 1 September 2026
Common questions
Yes. XSGD, issued by StraitsX SGD Issuance Pte. Ltd., is the Singapore dollar coin on this map. The issuing entity is a distinct legal person from the StraitsX group brand and from the affiliate named alongside it in the whitepaper.
The [StraitsX XSGD page](https://www.straitsx.com/xsgd) lists reports from January 2022, monthly through 2024 and dated on the fifteenth and at month end from 2025. StraitsX describes the cadence as twice monthly, with reporting dates typically covering the 15th and the end of each month, and the whitepaper says audits are performed twice a month.
The latest XSGD reserve report attests supply across eleven chains. DIA holds contract addresses for six of them, so the supply on DIA's XSGD page is a floor, not a rival measurement of the attested total.