Elliptic, Xfers partner to create more open financial ecosystem

Elliptic together with partner, Singapore-based fintech platform for digital businesses Xfers, has announced hitting the final milestone of their integration to extend on-chain transaction monitoring support of XSGD, the new SGD-backed stablecoin! With this coverage, Xfers and Elliptic customers can now monitor XSGD transactions and view extensive AML information through the Elliptic interface.

James Smith, CEO & Co-Founder of Elliptic says, ““Elliptic’s vision is an open, decentralized financial system powered by cryptoassets to increase choice and reduce costs for businesses and consumers.”

Issued by Xfers under the project name of StraitsX, the XSGD token is fully collateralized with the Singapore Dollar and is pegged 1:1 to SGD. XSGD is powered by Zilliqa, the high-throughput, high-security blockchain protocol that also benefits from Elliptic’s powerful risk insights and best-in-class compliance technology.

Xfers co-founder and CEO Tianwei Liu says Xfers aims to create a more open financial ecosystem and increase financial inclusion within Southeast Asia, while complying with the highest regulatory standards and that the on-chain transactions monitoring capabilities of Elliptic will bring more transparency to XSGD transactions thus enabling more digital assets service providers to adopt our first native token.

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