Xfers

Xfers is a prominent Singapore-based fintech company that has evolved from a specialized payment gateway into a foundational pillar of the Fazz Financial Group. Following a strategic merger with the Indonesian fintech firm PayFazz in 2021, the company has expanded its reach across Southeast Asia, focusing on building interoperable payment infrastructure that bridges the gap between traditional banking and digital assets. Today, its legacy payment services are integrated into the Fazz Business ecosystem, while its blockchain and digital asset initiatives operate under the StraitsX brand. The company is widely recognized for its pioneering work in the digital asset space, most notably for the issuance of XSGD, a Singapore Dollar-backed stablecoin. By leveraging distributed ledger technology and open API architectures, Xfers aims to eliminate the fragmented nature of Southeast Asian financial systems. With a strong regulatory foundation, including a Major Payment Institution license from the Monetary Authority of Singapore, the company continues to facilitate seamless cross-border transactions for businesses and consumers alike.

To break down the 'walled gardens' of the fragmented Southeast Asian payment landscape and create an accessible, 'wall-less' financial ecosystem supported by open APIs.

• First fintech startup in Singapore approved as a holder of a 'Widely Accepted Stored Value Facility' by the MAS
• Successfully merged with PayFazz to form the Fazz Financial Group
• Alumni of the prestigious Y Combinator accelerator program
• Recognized by the Singapore Police Force for contributions to fighting cybercrime and fraud
• Developer of the XSGD stablecoin, a key digital asset in the Southeast Asian market

Sources

• NUS Enterprise Startup Story
• Vulcan Post: Xfers Fintech Overview
• StraitsX Vision Insights
• TechCrunch: Xfers Seed Funding