Cryptocurrency infrastructure company StraitX announced plans to launch Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the Solana public blockchain, providing users with fast, low-cost blockchain-based currency exchange services. This marks the first time that a Singapore dollar-pegged stablecoin asset has been introduced into the Solana ecosystem.
According to official disclosures, StraitX will collaborate with the Solana Foundation to officially launch these two stablecoins in early 2026. At that time, Solana users will be able to perform instant on-chain exchanges between Singapore dollar (SGD) and US dollar (USD), which can be viewed as a decentralized, automated digital foreign exchange infrastructure.
StraitX stated that this deployment will deeply integrate XSGD and XUSD into the Solana ecosystem, including automated market makers (AMM), lending protocols, decentralized payment scenarios, as well as emerging smart agents and AI automation tools. Solana offers high throughput and low transaction fees, and supports the x402 payment standard, enabling applications and AI systems to automatically handle small on-chain payments, creating an ideal environment for high-frequency stablecoin usage.
Tianwei Liu, CEO and co-founder of StraitX, pointed out that the rising demand for instant, low-cost, 24/7 payments is a core driver for the rapid adoption of stablecoins. He stated that launching XSGD and XUSD simultaneously on Solana will integrate centralized exchange liquidity, DeFi applications, and daily payments into one high-performance network, helping to promote the free global circulation of digital currencies as easily as information.
Data shows that, so far, XSGD has a market cap of approximately $13 million, while XUSD’s market cap is about $50 million. XSGD has been deployed on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL among other blockchains, while XUSD is circulating on Ethereum and BNB Smart Chain. StraitX indicated that the total on-chain trading volume of these two stablecoins has exceeded $18 billion.
For the Solana ecosystem, the introduction of XSGD is a milestone. According to DefiLlama data, Solana currently has about $15.7 billion in stablecoin supply, mainly anchored to USD and AUD, but previously lacked a Singapore dollar stablecoin. Lu Yin, head of the Solana Foundation Asia-Pacific region, said that the addition of XSGD and XUSD will further strengthen Solana’s core position in global payments, cross-border settlements, and AI-driven on-chain economies.
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