BTSE has expanded its spot wallet support, adding stablecoins XSGD (XSGD) and Binance USD (BUSD) as quote currencies. The move is part of BTSE’s ongoing efforts to give users more trading versatility with expanded coin offerings.
XSGD is the first stablecoin pegged to the Singapore dollar. Built and issued by Xfers, a payments provider, XSGD is used for payments, trading, holding funds, and lending and borrowing.
The US dollar-backed BUSD is issued by Binance with Paxos, a blockchain infrastructure platform, and regulated by the New York State Department of Financial Services.
Also known as a counter currency, a quote currency is the second currency in a currency pair and serves to value the base currency, or the transaction currency. For BUSD and XSGD each, BTSE supports trading pairs with BTSE Token (BTSE), USDT, BTC, ETH, and LTC. BTSE’s spot wallet supports nearly 20 stablecoins and a dozen major fiat currencies.
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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.