Coinbase Lists AUDD and XSGD | New Developments Unearth Controversy
A recent update reveals that Coinbase has successfully listed AUDD and XSGD stablecoins, both linked to the Hedera network. This move aims to advance crypto adoption in the Asia-Pacific (APAC) region, but it comes with emerging skepticism regarding the coins' operational integrity.
The Intriguing Inclusion of AUDD and XSGD
Launched in June 2025, AUDD is Australia’s first stablecoin designed for institutional programmable finance. In contrast, XSGD has been around since 2023, providing compliant cross-border transactions supported by reputable banks like DBS and Standard Chartered. Both stablecoins leverage Hedera's impressive transaction capabilities, handling over 10,000 transactions per second (TPS).
Observers acknowledge this listing as a significant milestone but raise questions about the necessity of Hedera's involvement. As one commenter pointed out, "Everything I’ve seen has this running on ETH and BASE. Nothing I have found says this will be available on Hedera." This skepticism amplifies calls for clarity about the coins’ platforms, sparking a mix of hope and uncertainty in the community.
Emerging Concerns and Controversies
While some celebrate this breakthrough, others express concern about past issues with XSGD listings. A recent post cites, "Last time Bittrex listed XSGD, services shut down momentarily, causing funds to get stuck for over a year," prompting hesitance and caution among potential users.
Interestingly, another comment highlights a lack of credible records regarding prior suspensions of services, saying, "I found no credible record that Bittrex listed XSGD on Hedera, or that StraitsX suspended Hedera-network based XSGD services." This conflicting information leaves many in the community uneasy about the stability and reliability of these coins.
User Sentiments and Market Reactions
Despite the hesitations, the listing of AUDD and XSGD could spark growth in regional decentralized finance (DeFi), remittances, and payments. The hybrid nature of these coins—bridging fiat with digital currency—is designed to appeal to a wide audience. However, as pointed out, without immediate usability on the Hedera network, liquidity could become a problem.
"Without usability on the network, people will likely get out of XSGD," warned a vigilant commenter.
Key Insights
✓ AUDD and XSGD on Coinbase could significantly increase crypto adoption across the APAC region.
✖ Skepticism persists about the necessity of Hedera for these stablecoins, with some users pointing toward ETH and BASE.
⚠️ Ongoing discussions of past service interruptions highlight worries of reliability in the crypto space.
A strong need for efficient and compliant transaction methods supports the growing interest in stablecoins throughout the region. However, will user experiences guide future adoption, or will doubts hold back their potential? Only time will tell as they navigate this evolving marketplace.