StraitsX has released their XSGD stablecoin attestation reports for the months of June and July 2025, according to the company’s website.
This is part of a concerted effort to hold accountability and transparency for the industry, ensuring that stablecoin issuance and its reserves are properly audited. In both reports, StraitsX used KK Yap & Associates Chartered Accountants.
Ethereum was the leading blockchain with the largest amount of supply for the Singapore dollar-backed stablecoin XSGD across both months, with Polygon seeing a 22.63% increase.
StraitsX Stablecoin Reserve Supply
| Blockchain Network | June 2025 | July 2025 |
|---|---|---|
| Ethereum | 7,779,130 | 7,869,130 |
| Polygon | 2,564,190 | 3,144,190 |
| Avalanche | 1,951,146 | 1,751,146 |
| Zircuit | 1,252,756 | 1,252,756 |
| Arbitrum | 50,069 | 50,069 |
| Hedera | 50,000 | 50,000 |
| XRP Ledger | 10,000 | 10,000 |
| Platon | 0 | 25,590 |
| Total | 13,657,291 | 14,152,881 |
In both attestation periods, the audited reserve assets value (labelled as ‘Market-to-market value’ were higher than the dollar-equivalent of the circulating supply available on blockchains selected. The cash portion in July also increased by 23.07% and reliance on bonds decreased by 30.3%.
StraitsX Stablecoin Reserve Supply
| Reserve Type | June 2025 | July 2025 |
|---|---|---|
| Cash | 8,665,316 | 10,665,200 |
| Bonds – 3 month maturity or overnight reverse repurchase agreement AA- or Aa3 rating | 4,998,350 | 3,496,938 |
| Total | 13,663,666 | 14,162,138 |
StraitsX also issues XUSD, a much larger stablecoin backed by U.S. dollars rather than Singapore dollars, with a supply of 78,594,625 currently available on Ethereum and Binance.
