StraitsX to Launch XSGD and XUSD Stablecoins on Solana by 2026
StraitsX plans to launch its Singapore dollar-backed XSGD and US dollar-backed XUSD stablecoins on the Solana blockchain by early 2026, partnering with the Solana Foundation. This rollout will enable high-speed, low-cost settlement for transactions in SGD and USD stablecoins, targeting growing demand from digital commerce and AI-native applications. Both XSGD and XUSD currently support the x402 interoperability standard and are live on various blockchains; together, they have processed over $18 billion in onchain volume. On Solana, these stablecoins will facilitate onchain foreign exchange, automated market maker liquidity, lending markets, and institutional payments. StraitsX operates as a licensed Major Payment Institution under the Monetary Authority of Singapore’s stablecoin framework, with both stablecoins recognized as compliant with upcoming regulations. In a related development, StraitsX and Grab are exploring integration of stablecoin payments for Grab users in Southeast Asia, pending regulatory approval.
