StraitsX announces native XSGD & XIDR on Polygon blockchain JCN Newswire

StraitsX announces native XSGD & XIDR on Polygon blockchain

September 16, 2022
SINGAPORE, Sep 16, 2022 - (JCN Newswire via SEAPRWire.com) - StraitsX (www.straitsx.com), the leading infrastructure for digital assets in SE Asia, is delighted to announce XSGD & XIDR (Polygon) are now available natively on the StraitsX platform. StraitsX users are able to transfer and mint XSGD & XIDR (Polygon) directly from their StraitsX accounts, while XSGD & XIDR (Polygon) transferred to StraitsX accounts can be seamlessly converted back to SGD.StraitsX users are now able to transfer and mint XSGD & XIDR (Polygon) directly from their StraitsX accounts, while XSGD & XIDR (Polygon) transferred into StraitsX accounts can be seamlessly converted back to SGD.Polygon becomes StraitsX's third officially supported blockchain, after Ethereum and Zilliqa. XSGD & XIDR (Polygon) feature fast and efficient transactions, significantly more cost-effective than on the Ethereum network. A Layer 2 solution, Polygon runs decentralized applications (dApps) built for Ethereum, enabling developers to quickly scale dApps to run on faster, more efficient infrastructure and accelerate access to Web3, decentralized finance (DeFi) and NFT markets.The Singapore dollar-denominated stablecoin (XSGD), launched in October 2020, has gained rapid adoption, boasting SGD 4.8 billion in on-chain transactions and becoming one of the largest non-USD stablecoins by market capital today. The Indonesian Rupiah-denominated stablecoin (XIDR), launched in November 2021, has also gained significant traction, joining XSGD among the largest Southeast Asian stablecoins.Aymeric Salley, Head of StraitsX, said: "We're thrilled to introduce our StraitsX stablecoins into the vibrant Polygon ecosystem, enabling our users to take advantage of the faster settlement times and significantly reduced gas costs."Hamzah Khan, Head of DeFi and Labs at Polygon, said: "StraitsX's stablecoins are some of the most-utilized in the cryptocurrency space, particularly outside the U.S. We're delighted to welcome StraitsX to the Polygon ecosystem and recognize the immense utility they'll bring -- particularly within Polygon's expanding DeFi ecosystem. We look forward to providing the infrastructure that allows the project to flourish in the coming months and years."About StraitsXStraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS). We enable fast and safe access to digital assets markets and decentralised finance applications through StraitsX APIs and stablecoins for individuals and businesses. StraitsX stablecoins XSGD & XIDR are pegged to the SGD & IDR and run on Ethereum, Polygon & Zilliqa blockchains.With a StraitsX personal account, users can mint and redeem StraitsX stablecoins, manage payments, and connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payments rails for digital asset platforms. StraitsX is a proud part of the Fazz ecosystem, which powers business banking across Southeast Asia. Visit www.straitsx.com.About PolygonPolygon (Matic) provides a formulaic structure for Ethereum Layer 2 solutions, side chains, private chains, and side chain interactions. Any Ethereum contract can be easily adapted to the Polygon POS, a commit-chain with its staking & consensus activity on Ethereum. Boasting lower gas fees and faster speeds than Ethereum, Polygon aims to resolve the problem of scalability. More than 7,000 DeFi apps now use Polygon. Visit https://polygon.technology. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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StraitsX, the issuer of XSGD and XIDR introduces Polygon as its third natively supported blockchain ACN Newswire

StraitsX, the issuer of XSGD and XIDR introduces Polygon as its third natively supported blockchain

September 15, 2022
Singapore, Sep 15, 2022 - (ACN Newswire via SEAPRWire.com) - StraitsX (www.straitsx.com), the Southeast Asia-based digital asset payment infrastructure today announced native support for the StraitsX Singapore Dollar (XSGD) and StraitsX Indonesian Rupiah (XIDR) on the Polygon blockchain. Polygon will become StraitsX's third officially supported blockchain, after Ethereum and Zilliqa.Since its launch in October 2020, XSGD has gained rapid adoption, surpassing over 4.8 billion XSGD in on-chain transactions, making XSGD one of the largest non-USD stablecoin by market capital today. XIDR, introduced in November 2021, has also gained significant traction, joining XSGD as one of the largest Southeast Asian stablecoins. Starting today, users can leverage the StraitsX platform to send and receive XSGD & XIDR on the Polygon network.Head of StraitsX, Aymeric Salley said: "We're thrilled to introduce the StraitsX stablecoins in the vibrant Polygon ecosystem, enabling our users to take advantage of the faster settlement times and significantly reduced gas costs."Hamzah Khan, Head of DeFi and Labs at Polygon, said: "StraitsX's stablecoins are some of the most-utilized in the cryptocurrency space, particularly outside the U.S. We're delighted to welcome StraitsX to the Polygon ecosystem and recognize the immense utility they'll bring -- particularly within Polygon's expanding DeFi ecosystem. We look forward to providing the infrastructure that allows the project to flourish in the coming months and years."XSGD & XIDR (Polygon) features fast and efficient transactions. Transactions on the Polygon network are significantly more cost-effective on the Ethereum network. Known as a 'layer 2' scaling solution, Polygon is designed to run decentralized applications (dApps) built for Ethereum, enabling developers to quickly scale their dApps to run on faster, more efficient infrastructure and accelerate access to Web3, decentralized finance (DeFi) and NFT markets.About StraitsXStraitsX is the pioneering payments infrastructure for digital assets space in Southeast Asia and a Major Payment Institution licensed by the Monetary Authority of Singapore.StraitsX is part of the Fazz ecosystem, which aims to make the future of finance accessible for all businesses in Southeast Asia.StraitsX offers personal and business account holders to mint and redeem StraitsX stablecoins, manage payments, and connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payment rails for digital asset platforms.For more information, please visit www.straitsx.com.About PolygonPolygon (Previously known as the Matic network) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.Also known as a layer-2 scaling platform, the Polygon chain exists on top of the Ethereum blockchain. The Polygon chain boasts lower gas fees and faster speeds compared to the Ethereum blockchain. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Moonstake Now Supports Staking of ORBS on Polygon Network ACN Newswire

Moonstake Now Supports Staking of ORBS on Polygon Network

July 4, 2022
SINGAPORE, Jul 4, 2022 - (ACN Newswire via SEAPRWire.com) - Moonstake is pleased to announce that our users can now earn interest from staking ORBS token on an additional chain - Polygon - on both the Web and Mobile Wallets! Hold, send, receive, and stake ORBS on both Ethereum and Polygon Network to earn multi-chain staking rewards with the best user experience through one single click! Previously in April 2022, we initially integrated support for Polygon chain, specifically enabling users the ability to hold, send, receive, and own MATIC coin as well as MATIC tokens. As an official Guardian of Orbs Universe via strategic partnership with Orbs Network since March 2021, Moonstake is proud to bring our community as well as ORBS users globally the ORBS multi-chain staking experience on Ethereum and now Polygon!Moonstake started the staking business last year with the aim to create the largest staking network in Asia. Since then, we have developed the most user-friendly Web Wallet and Mobile Wallet (iOS / Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Since March this year, Moonstake has also entered DeFi together with the newly launched DeFi platform, Muse.Finance, who has begun releasing its core DeFi products which are all scheduled to be integrated into Moonstake platform to enable advanced DeFi connectivity for our global users.Meanwhile, Orbs recently rolled out its Orbs 3.0 upgrade which utilizes Orbs' unique features, designed for interoperability with EVM and non-EVM blockchains, to be set up as a separate decentralized execution layer operating between the base blockchain layer and application layer.The Orbs Network is powered by the ORBS token, which is used for the settlement of fees and provides the system of incentives for election of Guardians (the Orbs validators) using Proof-of-Stake consensus. It is accessible across eight major chains: Ethereum, Binance Smart Chain, Polygon, Solana, Avalanche, Fantom, Harmony and Cronos. The protocol's expansion to Polygon Network was based on Polygon's market prominence as a leading layer-2 project on top of Ethereum that is one of the market's biggest blockchains for Web3 builders, boasting over 7,000 DApps in its developer ecosystem which features numerous big names - from DeFi projects such as lending platform Aave to luxury brands company Dolce & Gabbana and NFT marketplaces including OpenSea and Mark Cuban's Lazy.com. Deploying Orbs staking on Polygon capitalizes on the advantages offered by the Ethereum stack in order to achieve both scalability and low fees as well as high security, while also offering users the flexibility to stake and earn with whichever chain they like.How to stake ORBS on Moonstake WalletHere's a simple 3-step process to stake ORBS with Moonstake Wallet1. Register your Moonstake Web wallet2. From the wallet screen, select ORBS on Polygon and click the "Stake Now" button.3. Confirm the staking information, then click the "Staking" button and enter your wallet password.How ORBS Staking WorksHold ORBS Token and no minimum amount for staking.Agree to lock in and stake ORBS.The gas fee for transactions will be in MATIC tokens of Polygon instead of ETH like staking ORBS on Ethereum.How to get rewards of ORBS stakingToken holders that delegate to an active Guardian are rewarded in proportion to their stake. Annual reward is up to 6.67% of the Delegators staked tokens.*Delegators are ORBS token holders who assign their voting weight (stake) to Guardians, empowering them to maintain security and uphold the long term vision of the ecosystem.How ORBS unstaking worksIf token holders want to send an asset that is currently staked, they will need to unstake it first. The unstaking of tokens will take a full 14 days before they become available, therefore you will not be able to send the tokens immediately. The period during which the tokens cannot be transferred is called the "cooldown period".Expanding the staking feature of ORBS to Polygon is another step in Moonstake's effort to promote the adoption of crypto staking as we continue to provide more options and value to crypto users worldwide, and our close working relationship with partner Orbs Network will ensure a satisfactory staking experience for our users. We have previously held a number of campaigns for ORBS users, including webinar, quiz, and giveaways, and we are always working to organize more valuable programs for the community. Please stay tuned for more updates from us!About MoonstakeMoonstake is the world's leading staking service provider that develops and operates decentralized wallet services for businesses and individuals. Since its launch in April 2020, Moonstake has partnered with 27 leading platform providers, including Cardano's constituent Emurgo, developer of the Polkadot-connected blockchain Astar Network Stake Technologies, and the TRON Network with over 50 million users. In May 2021, Moonstake further enhanced its corporate credibility by becoming a wholly owned subsidiary of OIO Holdings Limited, a company listed on the Singapore Stock Exchange. Using blockchain technology, Moonstake aims to progress toward a world where anyone can easily make use of highly secure and reliable digital asset management tools. https://www.moonstake.io/About Moonstake's staking businessFor the staking industry, which has grown into a 630-billion dollar market as of September 2021, Moonstake provides a decentralized staking service that does not require user deposits, and supports nodes around the world in addition to its own validator nodes. Moonstake currently supports the staking of 12 blockchains. With a total staking assets of 1.8 billion USD and a global user base, the company ranked third out of more than 10,000 providers worldwide in June of the same year.About OrbsThe Orbs Network is an open, decentralized and public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus. Orbs is set up as a separate decentralized execution layer operating between existing L1/L2 solutions and the application layer, as part of a tiered blockchain stack, without moving liquidity onto a new chain. Orbs acts as a "decentralized backend", enhancing the capabilities of existing smart contracts and opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs and GameFi. Orbs was founded in 2017 and launched its mainnet and token in March of 2019. Orbs is being developed by a dedicated team of more than 30 people, with offices in Tel Aviv, London, Singapore, Tokyo and Seoul. https://www.orbs.com/ About PolygonPolygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured. If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure txns for your dApp, get started here. https://polygon.technology/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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