Coinbase Dumps the Dollar? AUDD & XSGD Launch Sep 29! 💸

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Oh, great, another way to make crypto feel like a normal thing. Because nothing says “normal” like converting your Australian dollars into a stablecoin. 🤡 Coinbase is taking a major step to make crypto feel more familiar to everyday users. It announced that it will add two fiat-backed stablecoins, the Australian dollar-based (AUDD) and the Singapore dollar-backed (XSGD) to its trading platform starting September 29, 2025, at 19:00 UTC. 🕒

For Coinbase, this isn’t just another token listing, it’s part of a bigger plan to bring a billion people into crypto by letting them transact in the money they already know and use. A billion people? That’s a lot of people. I’m sure they’ll all be thrilled to use their own money in crypto. Or maybe they’ll just be confused. Either way, let’s do it. 🤷‍♂️

Coinbase to List AUDD and XSGD Stablecoins

Through a blog post, Coinbase reveals that AUDD is issued by AUDC Pty Ltd, fully backed 1:1 by Australian dollar reserves. Meanwhile, XSGD, developed by StraitsX, is tied to the Singapore dollar and recognized by the Monetary Authority of Singapore (MAS). 🇦🇺🇸🇬 According to a blog post, which I’m sure is 100% accurate. Because who else would know about stablecoins except for… well, Coinbase. 🤷‍♂️

It also fits into Singapore’s new Single Currency Stablecoin regulatory framework, a rare case of crypto tokens aligning neatly with government rules. And here we have a rare case where crypto aligns with government rules. That’s like finding a needle in a haystack. 🧵

However, this move significantly reduces friction for Australians and Singaporeans converting between fiat and crypto. Oh, great, now they can convert their money without friction. Because nothing says “convenience” like using your own currency. 🤡

Coinbase is listing two new local stablecoins:

AUDD
XSGD

Local stablecoins will drive local crypto business growth and help to onboard many more new people to crypto.

– Brian Armstrong (@brian_armstrong) September 24, 2025

According to an Ipsos survey commissioned by Coinbase, over 70% of crypto holders in these countries want local stablecoins they can actively use, addressing both day-to-day and cross-border payment needs. An Ipsos survey says 70% of crypto holders want local stablecoins. I’m sure that’s not just a coincidence. 🤔

How Users Will Benefit

  • Direct 1:1 conversion of AUD → AUDD and SGD → XSGD on Coinbase, no forex fees. No forex fees? That’s a relief. I was worried I’d have to pay extra to use my own money. 💸
  • Access to multi-currency liquidity pools, including XSGD/USDC on Aerodrome Finance. Multi-currency liquidity pools? Sounds like a fancy way to say “more options.” 🤷‍♂️
  • Wider adoption of local stablecoins in payments, settlements, and DeFi use cases. Wider adoption? Because nothing says “adoption” like having your own stablecoin. 📈
  • Regulatory clarity for XSGD, one of the few stablecoins with official approval in Southeast Asia. Regulatory clarity? That’s a new one. 🤯

Breaking Away from the Dollar Grip

The stablecoin market has exploded, hitting $250 billion in value this year after processing more than $30 trillion in transactions in 2024. But here’s the catch: nearly all of it runs on the U.S. dollar. That leaves people outside the U.S. paying extra for conversions and missing out on the convenience of transacting in their own money. The stablecoin market has exploded, but it’s all in USD. Because why not? 🤷‍♂️

Coinbase wants to change that. With AUDD and XSGD, users in Australia and Singapore will soon be able to convert their local dollars into these stablecoins on Coinbase without paying fees. Without paying fees? That’s a relief. I was worried I’d have to pay extra to use my own money. 💸

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2025-09-24 22:06