“The debut will enable instant swaps between SGD and USD on Solana, facilitating digital forex trading.”, — write: www.coindesk.com
That’s because, crypto infrastructure firm StraitsX said Tuesday, that it’s planning to launch its Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the Solana public blockchain, creating an easy way to exchange these currencies.
The early 2026 debut, targeted in collaboration with the Solana Foundation, will enable instant swaps between Singapore dollars (SGD) and US dollars (USD) on Solana, per a press release. Think digital forex, but on blockchain.
It positions StraitsX’s stablecoins for widespread adoption in smart AI tools and automated online economies on Solana. Solana offers a payment standard called x402 that lets computers and AI programs automatically transact tiny amounts (like apps talking to each other). The blockchain is known to offer faster and cheaper transaction speeds than its main rivals such as Ethereum.
“Stablecoin adoption is increasingly driven by users and businesses who expect payments to be instant, low-cost, and available everywhere,” Tianwei Liu, CEO and Co-Founder of StraitsX, said.
“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. It also brings us closer to a world where digital money moves across networks as easily as information does today,” Liu noted.
Stablecoins are digital tokens whose value is pegged to an external reference, such as a fiat currency. These tokens help investors bypass price volatility associated with other cryptocurrencies and are increasingly being used in remittances and cross-border transactions.
At press time, StraitsX’s XSGD and XUSD had a market cap of $13 million and $50 million, respectively, according to Coingecko. XSGD is already live on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL, while XUSD is available on Ethereum and BNB Smart Chain.
StraitsX said that the two stablecoins have processed over $18 billion in on-chain transaction volume.
Solana gets first-ever SGD stablecoinFor Solana, XSGD’s arrival delivers its users the first digital version of the Singapore dollar. The blockchain already hosts $15.7 billion in stablecoins tied to currencies like the US and Australian dollars, but has lacked an SGD option to date, per DefiLlama data.
“Welcoming both XSGD and XUSD to Solana expands the network’s role as a top global payments chain and unlocks new opportunities for builders, institutions, and users, from instant cross-border settlements to DeFi applications like lending, borrowing, and yield generation,” Lu Yin, head of APAC at The Solana Foundation, said.
“The addition of native SGD and USD liquidity further strengthens Solana’s role as a core infrastructure layer for AI-and machine-driven on-chain transactions,” added.
08:57 UTC: Corrects typo in headline and lede. The previous version erroneously said StraitX.
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