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StraitsX Leverages AvaCloud and Avalanche to Simplify Cross-Border Payments in Southeast Asia

Twitter icon  •  Published 3 weeks ago  •  Hassan Maishera

StraitsX, a payments infrastructure for digital assets in Southeast Asia, will leverage blockchain technology and Purpose Bound Money (PBM) to enable a stablecoin-powered payment system for users across the AliPay+ app at GrabPay merchants.

On Tuesday, the Avalanche Foundation announced via a blog post that StraitsX, a payments infrastructure for digital assets in Southeast Asia, will leverage blockchain technology and Purpose Bound Money (PBM) to enable a stablecoin-powered payment system for users across the AliPay+ app at GrabPay merchants.

By leveraging Avalanche tech and PBM, StraitsX enables fast, secure, and efficient payment solutions to users across the APAC region while maintaining the compliance standards required for financial applications.

StraitsX is leveraging AvaCloud and Avalanche’s Layer 1 (L1)  infrastructure to expand its XSGD stablecoin offering and integrate its payments technology into the Avalanche ecosystem. The integration should enable StraitsX to offer faster and more cost-effective transactions to users across the APAC region while maintaining the compliance standards required for financial applications.

Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 15% today and currently trades at $26.23 per coin.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.