We're excited to announce that @StraitsX, a major payment institution licensed by @MAS_sg, is piloting a series of stablecoin applications with @Mastercard, @IdemiaGroup, & Carbon Seed for $XSGD - their Singapore dollar stablecoin built on @hedera ⚡ #SFF2022
Through collaboration with their partners, StraitsX focused on driving five key benefits of stablecoins: increasing payment efficiency, on-chain & offline programmability providing interoperability, financial inclusion & enabling sustainable and energy-efficient transactions. 
Through their partnership with Idemia, a leading solutions provider in identity technologies, users are able to transact XSGD offline.
As a result, this will help drive financial inclusion by enabling users with limited network access to benefit from lower merchant fees.
As a result, this will help drive financial inclusion by enabling users with limited network access to benefit from lower merchant fees.
Alongside this, Mastercard crypto partners will be able to use XSGD to facilitate settlements between businesses.
This pilot aims to bridge between the digital assets spent by cardholders & the fiat currencies needed to settle with merchants, reducing overall friction.
This pilot aims to bridge between the digital assets spent by cardholders & the fiat currencies needed to settle with merchants, reducing overall friction.
Pursuing sustainability, StraitsX has also partnered with Carbonseed.Earth to enable early funding for quality carbon projects by issuing tokenized carbon credits, purchased through XSGD and held in #Web3 wallets.
To learn about StraitsX and their @hedera based XSGD stablecoin, you can read more here 👇
straitsx.com/blog-post/stra…
straitsx.com/blog-post/stra…
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