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Today, our team at Elliptic along with our partner, Xfers, a Singapore-based digital business fintech platform, are excited to announce that we have reached the final milestone of our integration into extend support for tracking transactions on the XSGD chain, the new stablecoin that supports SGD! With this coverage, Xfers and Elliptic customers can now monitor XSGD transactions and review extensive AML information through the Elliptic interface.
Issued by Xfers under the project name StraitsX, the XSGD token is fully collateralized with the Singapore dollar and is pegged 1:1 to SGD. In Singapore, Xfers is licensed by a major payment institution to issue e-money. XSGD is powered by Zilliqa, a high-throughput, high-security blockchain protocol that also benefits from Elliptic’s powerful risk insights and best-in-class compliance technology.
To learn more about Xfers and Zilliqa, read on Zilliqa and Xfers are partners in Blockchain payments research
To learn more about Elliptic and Zilliqa, read on Elliptic brings AML compliance to the Zilliqa Blockchain
Leveraging Elliptic’s powerful suite of cryptoasset compliance and risk management capabilities, Xfers is taking the driver’s seat of its fast-growing business to combat potential crime in the new stablecoin, demonstrating to regulators its commitment to compliance excellence while enabling them to accelerate the growth of their customers. no worries.
Xfers co-founder and CEO Tianwei Liu said:
“Xfers aims to create a more open financial ecosystem and increase financial inclusion in Southeast Asia, while adhering to the highest regulatory standards. Elliptic’s on-chain transaction tracking capabilities will bring greater transparency to XSGD transactions, enabling more digital asset service providers to adopt our first native token”.
James Smith, CEO and co-founder of Elliptic said:
“Elliptic’s vision is an open, decentralized financial system powered by cryptoassets to increase choice and reduce costs for businesses and consumers. Our partnership with Xfers is less about asset coverage and more about our commitment to this vision. We are excited to add XSGD to our coverage and win compliance with Xfers across Asia.”
Want to learn more about how our partners like Xfers and Zilliqa are using Elliptic? Contact us or email hello@elliptic.co.
About the elliptical:
Elliptic is a global leader in cryptoasset risk management solutions for cryptoasset companies and financial institutions worldwide. Backed by AlbionVC, Octopus Ventures, Santander InnoVentures, SBI Group, SignalFire and Wells Fargo Strategic Capital, Elliptic has assessed the risks of multi-trillion dollar transactions, detecting activities related to money laundering, terrorist financing, fraud and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore and Tokyo. To learn more, visit us at www.elliptic.co and follow us on LinkedIn and Twitter.
About Xfers
Founded in 2015, Xfers is Southeast Asia’s leading Fintech platform for digital business, enabling open banking for Southeast Asia. It boasts a range of last-mile financial rails, including the Xfers Wallet Kit, Fiat-to-Crypto ramps and virtual accounts. Today, Xfers and its merchant partners process over US$150 million for over 10 million unique active users every month across Singapore and Indonesia. In Singapore, Xfers holds a major payment institution license to issue e-money under the new Payment Services Act. In Indonesia, Xfers offers a range of API-driven financial solutions that include loan channeling, disbursements and virtual accounts. Xfers works closely with regulators to ensure that all its products and services are fully compliant with the highest regulatory standards. For more information, visit: https://www.xfers.com/.
About Zilliqa:
Zilliqa is a high-performance, high-security blockchain platform for next-generation enterprises and applications. Developed through academic research and led by a team of experienced scientists, engineers, venture creators, and financial services leaders, Zilliqa addresses the limitations of scalability and security, enabling real-world usability across a variety of industries, including finance, digital advertising, and gaming. In 2019, Zilliqa became the first public blockchain platform to be built on a distributed architecture, with smart contracts written in the secure-by-design Scilla platform programming language. For more information visit: zilliqa.com.
Articles of the Compliance Regulation
