Sure 1000% Huat Kah Liao…Singapore launches its first Stablecoin , samsters dun miss the Mega Huat Big Big Boat de woh

[face the facts]

fully backed? then why need to have XSGD?

 

[PatriotMissile2025]

fully backed? then why need to have XSGD?

For transparency.

 

[ftan42]

The main difference between traditional and digital transactions is that the former can take days or even weeks to process, often with higher fees, whereas the latter is instantaneous and typically incurs minimal or zero transaction costs.

 

[syed putra]

Different ftom Alipay?

 

[ftan42]

Different ftom Alipay?

Alipay still uses fiat currency and not stablecoin or cryptocurrency

 

[Loofydralb]

Singapore is set to launch its officially backed stablecoin, XSGD, on Coinbase on September 30.
The XSGD is fully backed 1:1 by Singapore Dollar reserves held in reputable banks, including DBS and Standard Chartered.
This new digital currency enables users to conduct transactions and manage their digital assets directly in the local currency, streamlining the process and minimizing the need to convert to USD-backed stablecoins first.

The citizens are going to be screwed. Hahahaha
Soon the dollar you hold in your hand will be worthless.
All transactions will be in this crypto. They can see every transaction. They can automatically deduct your account.
They can anytime tax your account.
They can anytime devalue your crypt dollar.
You're screwed.

 

[Willamshakespear]

Investments are the personal use of one's hard earned savings, thus may everyone perform CRITICAL ANALYSIS before any action taking on purchasing or rejecting cryptocurrencies, and not rely on the PERSONAL VIEWS of one person alone, such as from the insignificant nobody me....


A) The S$ingdollar is pegged by a basket of international currencies used, our GDP, revenues, reserves and confidence in our often boring but pragmatic stable political policies.

B) $Stablecoin is backed by the S$ingdollar 1:1.

C) However, as cryptocurrencies are often subjected to the vagaries of speculation, which anyone, from locals to foreigners, can SPECULATE on, and thus there will be differentiations between actual S$dollar and $Stablecoin from time to time.

D) Although $Stablecoin is on a value of 1:1, the amount that one has in the coin will be based up the MARKET VALUE of the coin at the time of exchange, where-else the S$ingdollar exchange rate will be based upon INTERNATIONAL FOREX EXCHANGE MARKETS DAILY.

 

[ftan42]

The authority has the final say in determining which currency to be used, whether it's a fiat currency, a cryptocurrency, or a combination of both, regardless of local sinkies considerations regarding stability, privacy or security of the $$$.

The citizens are going to be screwed. Hahahaha
Soon the dollar you hold in your hand will be worthless.
All transactions will be in this crypto. They can see every transaction. They can automatically deduct your account.
They can anytime tax your account.
They can anytime devalue your crypt dollar.
You're screwed.

The authority has long sought to maintain control over the flow of dollars from users, effectively dictating how and when individuals can access, manage, and utilize their funds. This level of control can significantly impact illegal use for washing money

 

[Willamshakespear]

Just to add to the insignificant nobody me earlier post on SPECULATION on one's own hard earn life savings, which I had not done so in detail as I always did even if no one reads it....


A)Example of how SPECULATIVE cryptocurrencies can be:-

i) I bought 1000 stablecoins at a $1 for each coin at 3am on 30th Sept 2025.

ii)By 3pm 30th Sep 2025, the total amount of stablecoins available, based upon reserves held by banks and companies financing such a project which amounts to for example 300 Million coins, HAD BEEN SOLD OUT.

iii) By 3.10pm 30th Sep 2025, there were still BUYERS - to the amount of 1 Billion whom were either confident of Singapore's financial and political policies or just intuitive to the smell of money, are willing to offer $2 for each coin.

iv) By 3.15pm, thru speed of light FINTECH exchanges, millions of stablecoins were sold at $2 each.

v) By 5pm, the stock market closes, but the price of stablecoins had risen to $5 each.

Thus, at 4.59pm, should I had sold off my 1000 stablecoins, I would be $5000 richer.

Sadly, no Human would do what I would had done, but instead, hang on, as there are still Hundreds of Million buyers out there awaiting for our stablecoins.... without realizing the realities that the market CAN and WILL MOVE Opposite ways.......as there is NO algorithms that can predict Human behavior successfully each and every time.......

 

[nabeifuckpap]

Cashless system copycat China

 

[ftan42]

Understanding your situation, consider the recent incident on Sept 22, involving Bitcoin, which was manipulated for approximately 3 minutes, resulting in the loss of around of approximately few hundred of million dollars in 400K user accounts. This was orchestrated by a large-scale 'whale', who had the backing of some of the largest banks. These institutions have access to advanced tools and AI analysis, which they used to identify the optimal time to execute their short-selling strategy, exacerbating the situation for panicked sellers.
Similar incidents have also occurred in the foreign exchange market (forex), with numerous past examples available upon conducting a search online.

 

[zhihau]

Altogether now!!! HUAT AH!!!