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StraitsX Stablecoin Attestation Reports From June, July 2025
StraitsX Stablecoin Attestation Reports From June, July 2025. Photo By Elizabeth Kay On Unsplash.
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.
Supply Overview
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%.
Reserve Composition
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.
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