1.6B
Alipay+ users globally, every one of them now able to pay at a GrabPay merchant in Singapore using their home wallet, in their home currency.
How StraitsX made cross-border digital wallet payments feel as seamless as local ones.
Singapore's MAS-licensed Major Payment Institution turned the XSGD stablecoin into a settlement rail connecting Alipay+ travellers with the entire GrabPay merchant network, instant FX, 24/7 settlement, no merchant onboarding required.
StablecoinsCross-BorderSingapore
The scale of the problem
100,000+
Singapore merchants in the GrabPay network reachable through a single integration, cafes, convenience stores, boutiques, hawker stalls, all enabled with no new hardware or onboarding.
22
International payment apps across 14 countries now connected through the StraitsX rail, with 174% YoY transaction growth and 2.5× growth in unique users.
Cross-border was the problem. Settlement was the answer.
A traveller from Shanghai walking into a Singapore hawker centre used to be a chain of currency conversions, settlement delays, merchant onboarding, and hardware compatibility checks. None of that was visible to the traveller. All of it added cost.
StraitsX, Singapore's MAS-licensed Major Payment Institution, turned XSGD into a settlement rail. The traveller's Alipay+ wallet talks to the GrabPay merchant network. Behind the scenes, XSGD does the FX in real time and settles the merchant in SGD on a 24/7 basis. No merchant onboarding. No new hardware. No new app for the traveller.
What's new about the rail
- Programmable Purpose Bound Money. Conditional transfers, refunds, expirations, all native to the rail.
- Real-time FX. Pricing reflects the moment of payment, not the prior business day's close.
- 24/7 settlement. Merchants do not wait for SGD to land on Monday.
Why a dedicated AvaCloud L1
A regulated stablecoin issuer needs an environment whose operational guarantees match its compliance obligations. AvaCloud's managed L1 gives StraitsX the SLA, the privacy controls, and the on-prem viability a MAS-licensed Major Payment Institution requires, without putting StraitsX in the business of running a chain.
"This integration with Avalanche represents a significant step forward for XSGD and StraitsX. It will not only allow users to tap into Avalanche's vibrant ecosystem, but also offer users an enhanced experience with quicker transactions and lower fees."
— Jason Tay, Head of Commercial, StraitsX
Results
Live since
October 2024
Merchants
100,000+ via GrabPay
Reach
22 wallets · 14 countries