Binance Launches StraitsX USD (XUSD) on BNB Chain and Ethereum Mainnet

On March 17th, COINOTAG News reported that Binance has launched the US dollar-backed stablecoin StraitsX USD (XUSD) on both the BNB Chain and the Ethereum mainnet. The issuance of XUSD on the BNB Chain amounts to a total supply of 5,550,000 tokens, which are currently distributed across 59 addresses. In parallel, the Ethereum mainnet has seen the release of 22,300,400 tokens, allocated among 238 addresses. This strategic launch reflects Binance’s commitment to enhancing liquidity and accessibility within the blockchain ecosystem. The introduction of XUSD is expected to bolster trading capabilities for users, promoting increased stability in the volatile crypto market. As the adoption of stablecoins accelerates, Binance aims to position itself favorably to meet the evolving demands of investors and traders.