Coinbase Introduces XSGD Stablecoin on Base Network

2025-09-25 01:17

Coinbase has announced the launch of XSGD, a stablecoin backed by the Singapore dollar, on its Ethereum Layer 2 network, Base. Developed in partnership with StraitsX, XSGD will be available starting September 29, 2025, aiming to boost liquidity for users in the Asia-Pacific region. Ethereum co-founder Vitalik Buterin commended Base for its effective balance between scalability and decentralization, describing it as a model Layer 2 solution. In a related development, Coinbase has increased its Bitcoin-backed credit facility with CleanSpark by $100 million to enhance mining infrastructure.

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