XUSD looks simple at one dollar, but its biography runs through segregated bank accounts, dated reserve reports and an issuer key that can freeze addresses. Its peg is a legal and operational promise before it is a market price.
XUSD is a U.S.-dollar token issued by StraitsX USD Issuance Pte. Ltd., with StraitsX Payment Services acting as a distribution and redemption channel.
Its terms classify it as a digital payment token, not money, legal tender or a bank deposit. The MAS licence belongs to the issuer and does not turn the token into central-bank money.
A verified customer sends USD through supported banking rails; the issuer mints XUSD to an approved wallet. Redemption reverses the flow after checks, fees and limits.
A genuine holder has a claim to one USD less fees, but direct redemption with the issuer normally starts at USD 100,000 and payment follows processing rather than occurring automatically from a wallet.
The issuer’s XUSD product page lists Ethereum, BNB Chain and Solana contracts. The broader StraitsX-token terms mention other compatible networks, but the reviewed XUSD-specific evidence does not establish a Polygon deployment. A matching XUSD name on an unsupported contract does not make it redeemable under StraitsX terms.
The Ethereum token is an upgradeable proxy whose separate roles expose minting, pausing, blacklisting and wiping of blacklisted balances. These code permissions are distinct from the contractual grounds for intervention. Under clauses 11–12 of the token terms effective July 18, 2026, StraitsX reserves sole and absolute discretion to freeze tokens or blacklist external accounts when it believes they are connected with restricted activity. Frozen or blacklisted tokens cannot be transferred, withdrawn or redeemed until further notice. It also reserves discretion to repossess those tokens and issue replacements; regulatory or law-enforcement orders are examples, not exclusive prerequisites. After replacement, the former holder cannot assert rights in either the replaced or new tokens.
Reserves are held in segregated accounts on trust for holders, but segregation does not guarantee full or immediate recovery if a custodian fails.
The 2026-06-30 assurance report measured 46,615,142 XUSD against USD 46,694,407 of reserves reported as cash. It is a dated examination, not a live audit of every bank account.
One dollar is an issuer-operated redemption path. If onboarding, banking access, a freeze or fees block that path, secondary-market XUSD can trade away from par.
StraitsX first deployed the XUSD ERC-20 contract at 0xC08e7E23C235073C6807C2EFE7021304cb7c2815, establishing the issuer-controlled USD token tracked here.
On July 22, 2024, StraitsX announced the availability of its June 2024 attestation report. June is the reporting period, not the publication date.
Binance opened XUSD/USDT trading at 08:00 UTC, extending secondary access beyond issuance and redemption through the StraitsX dashboard.
Last evidence review: 2026-09-05
XUSD is a U.S.-dollar token issued by StraitsX USD Issuance Pte. Ltd., with StraitsX Payment Services acting as a distribution and redemption channel. Its terms classify it as a digital payment token, not money, legal tender or a bank deposit. The MAS licence belongs to the issuer and does not turn the token into central-bank money.
The issuer’s XUSD product page lists Ethereum, BNB Chain and Solana contracts. The broader StraitsX-token terms mention other compatible networks, but the reviewed XUSD-specific evidence does not establish a Polygon deployment. A matching XUSD name on an unsupported contract does not make it redeemable under StraitsX terms.
Reserves are held in segregated accounts on trust for holders, but segregation does not guarantee full or immediate recovery if a custodian fails.
One dollar is an issuer-operated redemption path. If onboarding, banking access, a freeze or fees block that path, secondary-market XUSD can trade away from par.
A verified customer sends USD through supported banking rails; the issuer mints XUSD to an approved wallet. Redemption reverses the flow after checks, fees and limits. A genuine holder has a claim to one USD less fees, but direct redemption with the issuer normally starts at USD 100,000 and payment follows processing rather than occurring automatically from a wallet.
The Ethereum token is an upgradeable proxy whose separate roles expose minting, pausing, blacklisting and wiping of blacklisted balances. These code permissions are distinct from the contractual grounds for intervention. Under clauses 11–12 of the token terms effective July 18, 2026, StraitsX reserves sole and absolute discretion to freeze tokens or blacklist external accounts when it believes they are connected with restricted activity. Frozen or blacklisted tokens cannot be transferred, withdrawn or redeemed until further notice. It also reserves discretion to repossess those tokens and issue replacements; regulatory or law-enforcement orders are examples, not exclusive prerequisites. After replacement, the former holder cannot assert rights in either the replaced or new tokens.
The 2026-06-30 assurance report measured 46,615,142 XUSD against USD 46,694,407 of reserves reported as cash. It is a dated examination, not a live audit of every bank account.
StraitsX USD Issuance Pte. Ltd. issues XUSD. A genuine holder can claim one USD less fees after onboarding and subject to legal restrictions.
At 2026-06-30 it recorded 46,615,142 XUSD and USD 46,694,407 of reserves, all reported as cash. That is a dated assurance result, not live proof.
Yes. The terms reserve discretion to freeze tokens linked to suspected restricted activity and to repossess and replace affected balances, not only when authorities issue orders. Frozen tokens cannot be transferred or redeemed until further notice; after replacement, the former holder loses rights in the old and new tokens. Ethereum code separately exposes pause, blacklist and balance-wipe functions.
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