Key Takeaways
- Major Expansion: StraitsX, licensed by the Monetary Authority of Singapore (MAS), plans to launch its XSGD and XUSD stablecoins on the Solana blockchain by early 2026.
- Strategic Partnership: The rollout is a collaboration with the Solana Foundation, leveraging Solana's high-speed, low-cost infrastructure for transactions.
- Focus on Innovation: The move aims to support digital commerce and AI-native applications, utilizing the x402 interoperability standard for automated transactions.
- Regulatory Compliance: Both stablecoins are acknowledged by the MAS as compliant with Singapore's upcoming stablecoin regulatory framework.
- Significant Volume: XSGD and XUSD have already processed over $18 billion in combined on-chain transaction volume across other networks.
Stablecoin Pioneer StraitsX Charts New Course on Solana
In a significant development for the digital asset ecosystem in Asia, StraitsX—a licensed Major Payment Institution under the Monetary Authority of Singapore (MAS)—has announced plans to expand its stablecoin offerings to the Solana blockchain. The company aims to bring its Singapore dollar-backed XSGD and US dollar-backed XUSD to Solana's high-performance network by the first half of 2026.
Unlocking New Financial Use Cases
This strategic expansion, developed in partnership with the Solana Foundation, is designed to meet the growing demand from next-generation platforms. The integration will provide users with access to fast, low-cost settlements in regulated stablecoins, specifically targeting sectors like digital commerce and artificial intelligence (AI).
“Launching XSGD and XUSD together on Solana will be game-changing. It unites CEX support, AMM liquidity, lending pools, and everyday payments on a single high-performance chain,” said Tianwei Liu, co-founder and CEO of StraitsX.
Solana's blockchain is increasingly recognized for its efficiency in handling automated payments and cross-chain transactions, particularly through standards like x402, which facilitates transactions between software agents.
Building on a Strong Foundation
StraitsX's stablecoins are not new to the multi-chain world. XSGD is already operational on several major networks including Ethereum, Polygon, Avalanche, and the XRP Ledger. XUSD is available on Ethereum and BNB Smart Chain. According to CoinMarketCap data, XSGD boasts a market cap of approximately $13 million, while XUSD's market cap stands at around $52 million.
The upcoming Solana deployment will natively support the x402 standard, enabling advanced functionalities such as:
- On-chain foreign exchange between SGD and USD.
- Enhanced liquidity provision through Automated Market Makers (AMMs).
- Participation in decentralized lending markets.
- Institutional-grade payment and settlement flows.
Regulatory Clarity and Mainstream Adoption
Operating within MAS's regulatory sandbox provides StraitsX with a significant credibility advantage. The company confirms that both XSGD and XUSD are positioned to be fully compliant with Singapore's forthcoming stablecoin regulations, as detailed in their official white papers.
This regulatory foresight is paving the way for real-world adoption. A recent landmark agreement with Grab, Southeast Asia's leading super-app, explores integrating these stablecoins into a Web3-enabled settlement layer. This could eventually allow millions of Grab users across the region to hold and spend XSGD and XUSD directly within the app for everyday transactions.
This move by StraitsX signals a broader trend of regulated financial innovation converging with high-performance blockchain technology, setting the stage for more efficient and accessible digital economies.
