Business Daily Media

Men's Weekly

.

Coda Bridge and StraitsX Collaborate on Blockchain-Powered Charity Initiative to Support Singapore’s Disadvantaged Communities

HONG KONG SAR - Media OutReach Newswire - 26 November 2024 - Coda Bridge, a pioneering Hong Kong-based blockchain platform provider known for its charity project that leverages blockchain technology to ensure accurate tracking of charitable donations, is pleased to announce its expansion into Singapore in collaboration with StraitsX.

The upcoming collaboration aims to leverage blockchain technology and smart contract programming to issue Purpose Bound Money (PBM) in the form of meal vouchers to eligible migrant workers and other underserved communities to dine at Dignity Kitchen Singapore.

Coda Bridge's platform has already seen significant success in Hong Kong, having partnered with Ronald McDonald House Charities (RMHC) Hong Kong, and Dignity Kitchen (Hong Kong), a social enterprise that employs physically challenged and disadvantaged people. The Hong Kong project, which was rolled out in May 2024, saw the distribution of HK$500 electronic meal vouchers to beneficiary families of the local chapter of RMHC, redeemable at Dignity Kitchen Hong Kong. The upcoming pilot in Singapore will see Coda Bridge utilise StraitsX's platform solutions and its Singapore dollar pegged stablecoin, XSGD to power backend acceptance flows of the PBM digital meal vouchers, guaranteeing that charity donations from Ray of Hope reach the intended beneficiaries and are spent specifically for dining at Dignity Kitchen Singapore. Beneficiaries can then use their mobile phone to scan a merchant-presented QR code at Dignity Kitchen and seamlessly pay using their vouchers. At the end of the project, Dignity Kitchen can redeem the digital vouchers collected from beneficiaries and receive cash through a reconciliation process with Ray of Hope.

PBM is a protocol that specifies the conditions upon which an underlying digital currency (such as stablecoins) can be used, which has the capability for money to be directed towards a specific purpose, and the potential to promote increased donation by providing unprecedented transparency and integrity in the donation process.

Using the StraitsX issued stablecoin that is compliant with the forthcoming Singapore regulatory framework, Coda Bridge highlights their commitment to revolutionise the global charity landscape through digital innovation while ensuring continual compliance with evolving regulatory frameworks. In addition, the versatility of StraitsX-issued stablecoin extends beyond commercial use cases such as the recent go-live of a cross-border solution allowing Alipay+ payment partner apps to pay at GrabPay merchants in Singapore. By tapping on the capabilities of programmable money, StraitsX and Coda Bridge envision a future characterized by groundbreaking efficiency in funds transfer across multiple real-world use cases.

This pilot project will run from November 2024 to February 2025. If successful, this innovation in charity donations will expand the use cases of PBM and XSGD with the aim of including more charities and social enterprises within Singapore.

Hashtag: #CodaBridge #StraitsX

The issuer is solely responsible for the content of this announcement.

About Coda Bridge

, headquartered in Hong Kong and backed by leading venture capitalists, merges the expertise of seasoned financial and IT professionals. Our company harnesses the power of FinTech to innovate and drive efficiency in digital transactions through our blockchain based Purpose Bound Money platform, tailored for specific financial needs.

News from Asia

ICONSIAM and POP MART Unveil the World’s Most Stunning "POP MART GLOBAL LANDMARK STORE" in Thailand on the Iconic Chao Phraya River

Thailand’s newest global attraction elevates ICONSIAM’s standing as a premier Global Experiential Destination, offering fans rare access to exclusive collections and limited editions found nowhere ...

ICONSIAM in Collaboration with Shanghai Yuyuan Tourist Mart Group Brings China’s Most Iconic Lantern Festival to Thailand for the First Time

“Yuyuan Lantern Festival 2025” Lights Up Bangkok to Celebrate 50 Years of Thai–Chinese Diplomatic Ties BANGKOK, THAILAND - Media OutReach Newswire - 1 July 2025 - ICONSIAM, the global landmark al...

OPPO Scores Unforgettable Experiences with Global Brand Ambassador Kaká at the UEFA Champions League Final 2024

LONDON, UNITED KINGDOM - Media OutReach Newswire – 1 June 2024 - The UEFA Champions League final kicked off today at London's legendary Wembley Stadium...

Immuno Cure wins Grand Prize at the National GBA Entrepreneurship Competition

“a prominent recognition attracting RMB 60M investment EOI” HONG KONG SAR - Media OutReach Newswire - 6 October 2025 - Immuno Cure BioTech ("Immuno Cure") is delighted to announce victory at the N...

8Wonder Makes the Impossible Possible, Bringing G-DRAGON 2025 WORLD TOUR [Übermensch] to Vietnam

HANOI, VIETNAM - Media OutReach Newswire - 6 October 2025 - This November, for the very first time, Vietnamese audiences will be immersed in an unprecedented music event: the global superstar G...

Enjoy a Golden Autumn of Glittering Rewards and Cultivated Indulgence at Galaxy Macau in Celebration of Golden Week

Crafting a serene but vigorous harvest season for guests with a repertoire of exquisite multifaceted dining, wining, and playing choices MACAU SAR - Media OutReach Newswire - 25 September 2025 - ...

Galaxy Macau and UFC® Announce Multi-Event Strategic Partnership Agreement To Bring Three UFC Events to Galaxy Arena

Starting in 2026 with UFC® FIGHT NIGHT MACAU and ROAD TO UFC Season 5 Opening Round MACAU SAR - Media OutReach Newswire - 4 September 2025 - Galaxy Macau™ Integrated Resort (hereinafter as "Galaxy...

LANDMARK Unveils Lauren Tsai’s World Debut Installation "My Dream : Our Hill" for Hong Kong Arts Month

Step Inside Lauren Tsai's Immersive Dreamscape and Rediscover Childhood Wonders HONG KONG SAR - Media OuReach Newswire - 25 March 2025 - In celebration of Hong Kong Arts Month, LANDMARK proudly pr...

LISA with Leading Thai and International Artists Captivate the World at the Amazing Thailand Countdown 2025, Reinforcing ICONSIAM as the Ultimate Global Countdown Destination

Thailand's iconic riverside celebration captivates the world with unparalleled spectacle, featuring a world-renowned superstar and style icon "Lisa Lalisa Manobal" and leading Thai artists, a recor...

Ascott Accelerates Oakwood Signings To Capture Rising Demand For Bleisure Travel, Launches Heartfelt Culinary Campaign To Celebrate The Brand’s Commitment To Comfort And Connection

Secures 16 Oakwood signings in 2024, reflecting a 30% year-on-year growth Adds four new Oakwood Premier properties in Adelaide, Bali, Shenzhen and Singapore Adds Bali to...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...

Australia’s top finance leaders recognised as CFO role expands

Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaug...

Why outdated security leaves small businesses exposed to crime

Small and medium businesses in Australia are under increasing pressure to address security gaps that criminals readily exploit. An unlocked door, an...

Why it’s time telcos rethink location and put customer experience first

Maurice Zicman, Vice President - CX Strategy at TP in Australia unpacks why the telco industry must rethink old assumptions and focus on digital-f...