StraitsX is digital payment infrastructure provider and stablecoin issuer licensed by the Monetary Authority of Singapore (MAS) as a major payment Institution. It aims to bridge traditional finance (TradFi) with the digital asset economy, offering solutions for businesses and individuals to access and utilize digital currencies.
It’s primarily known for its stablecoins, which include XSGD, a token pegged to the Singapore dollar, XIDR a token pegged to the Indonesian rupiah, and XUSD, which is pegged to the US dollar. These stablecoins are designed to maintain a 1:1 synchronicity with their respective fiat currencies and feature reserves held in licensed financial institutions.
StraitsX emphasizes transparency and regulatory compliance, with each of its stablecoins issued in accordance with MAS frameworks.
The firm’s solutions support multi-chain operations, with its stablecoins available on various blockchain networks including Hedera, enabling faster, scalable, and cost-effective transactions. The company provides APIs for seamless integration, which allow businesses to accept payments, facilitate payouts, and conduct blockchain transactions.
StraitsX also offers personal and business accounts for minting, issuing, redeeming, and transacting with its proprietary stablecoins. It is currently partnered with various financial institutions including RedotPay and Visa to enable digital asset spending via card programs.
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Pyth Network is a first-party financial oracle network that supplies extremely low-latency real-world price data across crypto, equities, forex, commodities, and ETFs. In February 2024 the Pyth catalog of over 400 price feeds was launched on Hedera via a partnership with the HBAR Foundation, giving developers permission-less access to real-time data and confidence intervals to improve DeFi risk management. HLiquity, a decentralized borrowing protocol on Hedera, became the first application to integrate these feeds to ensure accurate pricing and proper collateralization.
SaucerSwap is a decentralized exchange (DEX) and automated market maker (AMM) protocol built on the Hedera blockchain network. It provides permissionless swapping services for Hedera Token Service (HTS) tokens.
The platform allows users to trade between Hedera-based assets and enables users to become liquidity providers by depositing HTS tokens into liquidity pools where they earn a share of the trading fees generated by those pools. Additionally, it offers yield farming programs which allow liquidity providers to stake LP tokens for further rewards.
SaucerSwap has its own native asset, the SAUCE token, which is used for platform governance through a decentralized autonomous organization (DAO) as well as for staking and incentivizing liquidity. The platform aims to be a foundational component of the DeFi landscape on Hedera by providing essential infrastructure for token exchange and liquidity services to the network's users and developers. It also prioritizes user and network security through decentralized management and third-party security audits for smart contracts.
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