Singapore has been selected as the host city for the first-ever Stablecoin Summit, scheduled to take place on September 15, 2023, at Raffles Hotel Singapore.

The event, organised by XREX and the Unitas Foundation, aims to explore the potential impact of stablecoins in fintech, cross-border transactions, and B2B payments.

It seeks to encourage innovation and collaboration in the financial sector in Singapore and beyond, following the TOKEN2049 event.

This development follows the recent unveiling of the Stablecoin Regulatory Framework by the Monetary Authority of Singapore (MAS).

Voices of the Industry

Notable figures in the industry, including Cynthia Wu (Co-founder & COO, Matrixport), Lennix Lai (Global Chief Commercial Officer, OKX), and Hassan Ahmed (Country Director of Singapore, Coinbase), will discuss the practical use of digital currencies for institutions, cross-border merchants, small business owners, and consumers.

Leading stablecoin providers and protocols like Circle, CELO, Mento Labs, Unitas, and Goldfinch will also participate.

Wayne Huang, co-founder and CEO of XREX, a blockchain-enabled financial institution focused on emerging markets like India, stated:

"We've seen how stablecoin payments have addressed USD liquidity issues and aided small and medium enterprises and merchants in accessing the global market. We believe stablecoins will be a significant industry."

Changing Identity of Money

Less than a decade ago, the idea of sending substantial sums internationally without a trusted intermediary was considered unfeasible.

Today, stablecoins have made reliable and secure cross-border transactions possible for individuals, businesses, banks, and governments.

Yam Ki Chan, Vice President, Strategy and Policy for Circle, commented on the timeliness of the Summit, saying:

"As the issuer of USDC, one of the most trusted digital dollars, we are excited to participate in the event that brings together leaders from diverse sectors."

The Stablecoin Summit

The Stablecoin Summit, as a knowledge-sharing and networking platform, includes association partners like Blockchain Association Singapore and Taiwan Fintech Association.

Topics of discussion will include the design and use cases of stablecoins, cross-border payments, compliance and regulation, tokenized T-Bills, real-world adoption, impact on banking and other sectors, incentivising institutional adoption, and the global outlook for future developments.

XREX, a blockchain-enabled financial institution, works with banks, regulators, and users.

It offers enterprise-grade banking services to small to medium-sized businesses (SMBs) in emerging markets and user-friendly financial services to individuals worldwide.

The Unitas Foundation, responsible for Unitas Protocol, has introduced unitised stablecoins, a new category of stablecoins representing emerging market currencies and over-reserved with exogenous USD stablecoins (e.g., USDT, USDC, Dai), providing transaction ease and efficiency for people in emerging markets while securing underlying USD stablecoin value.

Interested parties can go here to register for the event.