Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply across all stablecoins
All 3 stablecoins combined
Share of total stablecoin supply
#40 of 98 issuers by supply
Share of non-USD stablecoin supply
of 74 non-USD stablecoins on the map
Stablecoins issued
median issuer: 1
Chains
read onchain, #8 of 98 issuers
Share of supply in lending
lower bound; below the median issuer (3.3%)
Founded / domicile
SG · Singapore
USD values for XIDR use the exchange rate of the coin's peg currency (FX-derived, not a market price). No market source quotes it.
Singapore payments issuer of XUSD, XSGD and the Indonesian-rupiah XIDR.
StraitsX is the trading name of the StraitsX Group of Companies, a Singapore fintech that issues regulated stablecoins for payments. It issues three: XUSD, XSGD and XIDR. Fazz is a sister company. Hendra Kwik is Fazz's Group Chief Executive Officer, and Tianwei Liu is CEO of StraitsX.
The legal issuer differs by stablecoin. StraitsX SGD Issuance Pte. Ltd. issues XSGD. StraitsX USD Issuance Pte. Ltd. issues XUSD. The token terms name three issuing entities for the StraitsX Tokens, StraitsX Payment Services Pte Ltd, StraitsX SGD Issuance Pte Ltd and StraitsX USD Issuance Pte Ltd, and assign XSGD and XUSD to their entities. They do not name the XIDR issuer. The XIDR launch announcement of 18 November 2021 named PT Xfers StraitsX Indonesia, an Indonesian subsidiary of Fazz, as the issuer.
What sets StraitsX apart is the currency mix. Most issuers on the map peg to the US dollar. StraitsX issues stablecoins pegged to the Singapore dollar and the Indonesian rupiah, and a US dollar one. It also issues cards for fintechs and crypto platforms as a Visa BIN sponsor, and its virtual accounts turn bank transfers into stablecoin balances. StraitsX describes itself as the licensed issuer and BIN sponsor behind the OKX Card in Singapore, and as the Visa BIN sponsor for RedotPay's card there. In October 2026 it said its card programmes reached an annualised GTV above US$6 billion.
Sources: StraitsX about page, StraitsX token issuers and key terms, StraitsX XIDR launch announcement, StraitsX trust and security page, StraitsX card issuance platform page, StraitsX, How StraitsX Powers OKX Card in Singapore (2 June 2026), StraitsX, partnership with RedotPay and Visa (11 February 2025), StraitsX partners Visa to expand card issuing to over 100 markets (16 October 2026), StraitsX developer docs, virtual accounts FAQ
All 3 stablecoins StraitsX issues.
Summed across all 3 stablecoins StraitsX issues, each dollar counted once. XUSD is 69.5% of the total. Over 30 days, DeFiLlama's circulating supply of these stablecoins changed -14.1%, against -3.1% for all stablecoins on the map.
Supply of every coin StraitsX issues, summed by chain from DIA's own totalSupply() reads of the verified contracts. Each coin's tokens are converted to dollars at DIA's price for that coin, or split pro rata from its market figure where DIA has no price, so coins in different currencies can share one column. Wrapped coins are left out: their supply is already inside the coin they wrap. Each chain shows the same amount as the chain row on each coin's own page.
US$49.1M
Read on 9 chains, all in the total
BSC45%US$22.0M
Ethereum43%US$21.2M
Base7%US$3.3M
Polygon3%US$1.3M
Avalanche2%US$1.1M
Solana<1%US$124.5K
Hedera<1%US$39.1K
Arbitrum<1%US$16.9K
XRPL<1%US$7.8KDeFiLlama circulating supply in USD, grouped by each stablecoin's peg currency. Coins DeFiLlama does not record are not counted.
Source: DeFiLlama circulating supply Updated
In DIA's latest read, the 2 stablecoins StraitsX issues with a peg reading sit within 14 bps of their peg. XUSD's typical daily move over the last 90 days was 2.7 bps.
Today is DIA's latest daily read of each stablecoin's price against one unit of its peg currency, in basis points: 100 bps is 1% away from the peg, above (+) or below (-).
Typical daily move is the standard deviation of the daily gap between the price and the peg over the last 90 days. Largest move is the single day in the last 12 months furthest from the peg. Both come from daily closes at 00:00 UTC (DeFiLlama, with CoinGecko where DeFiLlama has no price) and match the figures on each stablecoin's own page.
XSGD is priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That widens the 90-day and largest figures, so they are not comparable with the USD stablecoins' figures.
Attestation cadence is how often an independent accountant's report covers the reserves, where one is published. A stablecoin with none shown has no cadence published.
Stablecoins whose value rises by design, such as savings wrappers, have no peg figures. Their price is a yield curve, not a peg.
| Stablecoin | Today | 90d | Largest | Attestation |
|---|---|---|---|---|
 XUSDUSD | −5 bps (−0.05%) | 2.7 bps | +13 bps (+0.13%) | Twice monthly |
 XSGDSGD | −14 bps (−0.14%) | 10 bps | −77 bps (−0.77%) | Twice monthly |
 XIDRIDR | None identified |
US$447.3K supplied to 5 lending markets on 1 protocol, summed across all 3 stablecoins StraitsX issues. That is 0.9% of their onchain supply; the median across 43 issuers in lending markets is 3.3%. Yield pools live on each stablecoin's own page.
Lower bound: the balance of every StraitsX coin inside lending markets DIA reads onchain directly, summed. Coins that rebase or wrap another coin are left out, so the balance and the share count the same coins. The figure is gross: most of it is on loan, and borrowed stablecoins can be deposited again. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track.
Share of issued supply is that balance over the onchain supply of all the coins StraitsX issues, a coin with no lending market included. Coins that rebase or wrap another coin are outside both sides: a rebasing balance moves by contract, and a wrapper's supply is already inside the coin it wraps.
Source: DIA's own reads of each lending contract. Balances, supply rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under US$1,000, or pinned at full utilisation with runaway interest is left out.
Supply APY and borrowed are averages weighted by each market's balance, over the markets that report them: 100% of the balance for the APY, 100% for borrowed. Borrowed is the share of supplied stablecoins now on loan.
US$447K
supplied to 5 lending markets on 1 protocol, from 1 of StraitsX's 3 coins
84%
Borrowed
share of supplied stablecoins now on loan
0.62%
Average supply APY
weighted by the balance in each market
100%US$447KBaseXSGD / cbBTCUS$257K0.68%90%BaseXSGD / steakUSDCUS$180K0.55%76%BaseXSGD / cbETHUS$7K0.68%90%BaseXSGD / WETHUS$2K0.68%90%BaseXSGD / wstETHUS$2K0.68%90%Basein 5 lending markets100%US$447KEach issuer's share is its stablecoins' combined balance in the lending markets DIA reads, over their combined onchain supply. Stablecoins that rebase or wrap another stablecoin are left out of both sides. It leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet, so every share is a lower bound measured the same way, and the ranking compares like with like.
The ranking counts the 43 issuers with any balance in those markets, highest share first. The median is the middle issuer of those 43.
0.9%
of issued supply sits in the lending markets DIA reads
Lower bound: leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet.
Below the median issuer (3.3%)
Licensed by the Monetary Authority of Singapore as a Major Payment Institution.
Regulator: Monetary Authority of Singapore
Licences: MAS MPI
What StraitsX publishes
For XSGD and XUSD, the issuer states each is fully backed by reserve assets and redeemable 1:1. Its token terms set reserves at no less than 100% of the par value of tokens in circulation. The terms say reserves are segregated from the issuer's own assets and held in trust for token holders.
StraitsX provides independent reserve attestations from an ISCA-listed auditing firm, with reporting dates typically covering the 15th and the end of each month. The XSGD page lists reports from January 2022 and the XUSD page from February 2024.
What it does not publish
The XIDR page has no reserve or attestation detail. The launch announcement says each XIDR is backed by one rupiah held at a regulated financial institution in Indonesia, and does not name the institution.
Sources: StraitsX token issuers and key terms, StraitsX XUSD page, StraitsX XSGD page, StraitsX XIDR page, StraitsX XIDR launch announcement
Singapore. The Monetary Authority of Singapore (MAS) financial institutions directory lists StraitsX SGD Issuance Pte. Ltd. and StraitsX USD Issuance Pte. Ltd. each as a Major Payment Institution with Digital Payment Token Service as the regulated activity. StraitsX's trust page lists Major Payment Institution licence numbers PS20200475, PS20200656, PS20200657 and PS20200658 for the group, and does not map each number to an entity. The token terms say MAS has acknowledged XSGD and XUSD as substantively compliant with the upcoming single-currency stablecoin (SCS) regulatory framework. That statement is the issuer's own.
Indonesia. StraitsX's trust page says it operates in Indonesia under Bank Indonesia as a Payment Service Provider, licence 23/730/DKSP/Srt/B. The page does not say which entity holds it.
Sources: MAS directory, StraitsX SGD Issuance Pte. Ltd., MAS directory, StraitsX USD Issuance Pte. Ltd., StraitsX trust and security page, StraitsX token issuers and key terms
StraitsX issues three stablecoins on the map.
XSGD and XUSD each have their own issuing entity. Both carry the redemption and 100% reserve terms in StraitsX's token terms, and the issuer describes both as digital payment tokens under Singapore's Payment Services Act 2019.
Sources: StraitsX XSGD page, StraitsX XUSD page, StraitsX XIDR page, StraitsX token issuers and key terms
This chart is DeFiLlama circulating supply. The headline figure above is mostly DIA’s onchain reads, with DeFiLlama where DIA does not read, so the last point can differ from it.
Source: DeFiLlama circulating supply Updated
