StraitsX plans to launch its Singapore dollar-backed stablecoin XSGD and US dollar-backed stablecoin XUSD on the Solana public blockchain, with an preliminary rollout focused for early 2026.
The transfer expands the corporate’s multi-chain and cross-border settlement footprint and can make each stablecoins accessible on Solana for the primary time.
“Stablecoin adoption is more and more pushed by customers and companies who count on funds to be prompt, low-cost, and accessible in every single place. Launching XSGD and XUSD collectively on Solana will probably be game-changing.
It unites CEX assist, AMM liquidity, lending swimming pools, and on a regular basis funds on a single high-performance chain. It additionally brings us nearer to a world the place digital cash strikes throughout networks as simply as data does at this time.”
mentioned Tianwei Liu, CEO and Co-Founding father of StraitsX.
The mixing will allow SGD and USD settlement on Solana, which StraitsX mentioned is more and more getting used for x402-based funds, an interoperability normal designed to assist automated machine-to-machine and AI-agent micropayments.
The launch is aimed toward supporting cross-border funds, digital commerce and AI-native functions.
XSGD is at present dwell on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera and the XRP Ledger, whereas XUSD is offered on Ethereum and BNB Sensible Chain.
Collectively, the 2 stablecoins have processed greater than US$18 billion in on-chain transaction quantity, based on the corporate.
“Welcoming each XSGD and XUSD to Solana expands the community’s position as a high international funds chain and unlocks new alternatives for builders, establishments, and customers, from prompt cross-border settlements to DeFi functions like lending, borrowing, and yield technology.
The addition of native SGD and USD liquidity additional strengthens Solana’s position as a core infrastructure layer for AI-and machine-driven on-chain transactions.”
mentioned Lu Yin, Head of APAC at The Solana Basis.
StraitsX mentioned the launch would bridge Singapore greenback and US greenback stablecoin ecosystems on a single chain.
This might create a basis for on-chain international trade between XSGD and XUSD, in addition to liquidity and lending markets for institutional and decentralised use circumstances.
Each stablecoins assist the x402 normal natively, and this performance will probably be prolonged to Solana to allow automated agent-to-agent funds.
StraitsX mentioned main centralised exchanges are within the pipeline to assist Solana-native XSGD and XUSD, alongside work with decentralised exchanges and Solana-based DeFi protocols to ascertain liquidity swimming pools and lending markets.
The corporate added that it’ll work with the Solana Basis to assist liquidity throughout the ecosystem whereas addressing cash laundering and terrorism financing dangers linked to the mixing.
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by smartmalik6384 by way of Freepik
