1) You may have heard today that @XinFin_Official, is launching a Singapore Dollar Stablecoin on the $XDC network. No official info has been released yet. It was announced by @atulkhekade on Letcon 2020 by @zubi_io. The following thread are excerpts from the presentation on $SGDx

2) The $SGDx Stablecoin is being created in partnership with an e-money license holder regulated by the Monetary Authority of Singapore (MAS) & will be deployed on the $XDC Network. It's a stablecoin project based on SGD, & will be used mainly for remittances & trade finance.

3) With the $SGDx Stablecoin, money will be transferred at a fraction of the cost between suppliers & the lenders themselves can work their reserves into this Stablecoin to be able to lend it to the market.

4) This deployment would be the first of its kind on the $XDC Network & a major milestone for @xinfin_official.

And this project is not just about one Stablecoin.

5) What you basically see is the Tokenization of the Singapore dollar. This is a framework that was developed so that it is not just limited to just one implementation but it can be used for the tokenization for other currencies.

6) What @XinFin_Official is doing in the background & what they specialize in is to connect the ecosystem. #Xinfin is now reaching out to banks in India & financial institutions & banks in the UAE & Africa regions.

7) They are doing all of this so they can connect their payment systems, remittance systems, and trade finance based applications to Stablecoins to start live transactions.

8) While this news about $SGDx is a tremendous step forward in the adoption of the $XDC Network.

There are many more nuggets from today's presentation. Each of which will require their own threads.

More to follow!