SINGAPORE, Aug. 31, 2023 /PRNewswire/ -- The Monetary Authority of Singapore recently unveiled its Stablecoin Regulatory Framework to strong international reception, buttressing the nation-state's prominence as a cornerstone of the blockchain industry. It is thus befitting that Singapore has been selected as the venue of choice for the inaugural Stablecoin Summit, set to take place at Raffles Hotel Singapore on September 15, 2023.

The first Stablecoin Summit organized by XREX and Unitas Foundation is set to take place at Raffles Hotel Singapore on September 15, 2023.

Organized by XREX and the Unitas Foundation, this trailblazing event focuses on exploring the transformative potential stablecoins bring to fintech, cross-border, and business-to-business (B2B) payments, with the aim to catalyze innovation and foster collaborations within the financial landscapes in Singapore and beyond, right on the heels of TOKEN2049.

Expect influential thought leaders such as Cynthia Wu (co-founder & COO, Matrixport), Lennix Lai (Global Chief Commercial Officer, OKX), and Hassan Ahmed (Country Director of Singapore, Coinbase) to debate the practical implementation of digital currencies for institutions, cross-border merchants, small business owners, and how this impacts the lives of the everyday consumer. Be part of the conversation with leading stablecoin providers and protocols, such as Circle, CELO, Mento Labs, Unitas, and Goldfinch.

"XREX is proud to bring this summit to life with partners and speakers from organizations who share our vision of stablecoin adoption in real-world use cases," said Wayne Huang, co-founder and CEO of XREX, a blockchain-enabled financial institution focusing on emerging markets like India. "We've seen first-hand how stablecoin payments have solved USD liquidity issues and helped small and medium enterprises and merchants access the global market. We believe stablecoins will be the next trillion-dollar industry."

Less than a decade ago, the notion of sending billions of dollars internationally without a trusted third party was regarded as untenable. Sceptical voices believed sending large sums for just a few cents in fees was nothing more than a pipedream. Fast forward to today, the landscape looks diametrically different, with individuals, businesses, banks, and governments all have access to stable, reliable, and trustless transactions at almost any size - thanks to stablecoins.

"The Stablecoin Summit in Asia is timely given the recent policy developments in Singapore, Japan, Hong Kong, and around the world," said Yam Ki Chan, Vice President, Strategy and Policy for Circle. "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 to reshape the global financial landscape."

"ADDX is at the intersection of traditional finance and blockchain technology and we are honored to share our take at this Summit on the potential benefits and challenges of tokenizing real-world assets on blockchain," said Inmoo Hwang, Co-Founder and Chief Operating Officer, ADDX, a global private market exchange regulated by the Monetary Authority of Singapore. "We look forward to being a part of a cross-industry discussion that will take into account different regulatory environments and economic contexts."

As a premier knowledge-sharing and networking platform, Stablecoin Summit is proud to include association partners such as Blockchain Association Singapore and Taiwan Fintech Association, bringing life to ideas and discussions such as:

• Design & Use Cases of Stablecoins
• Cross-border payments
• Compliance & Regulation
• Tokenized T-Bills and other Real World Assets
• Real World Adoption
• Impact on Banking & other sectors
• Incentivising institutional adoption
• Global Outlook & Future Developments

About the organizers:

XREX is a blockchain-enabled financial institution working with banks, regulators and users to redefine banking together. XREX provides enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.

Unitas Foundation is the team behind Unitas Protocol, which defines a new stablecoin category -- unitized stablecoins. These serve as units of account representing emerging market currencies. Unitas' unitized stablecoins are over-reserved with exogenous USD stablecoins (e.g., USDT, USDC, Dai), thereby providing transaction ease and efficiency for people in emerging markets while secured by underlying USD stablecoin value.