StraitsX, a stablecoin issuer licensed by the Monetary Authority of Singapore, plans to expand its Singapore dollar and US dollar-backed stablecoins onto the Solana blockchain, aiming to support AI-powered transactions.
Accordingly, Singapore-based StraitsX plans to launch the XSGD (Peg to the Singapore dollar) and XUSD (Peg to the US dollar) stablecoins on the Solana network in early 2026.
This rollout was announced in collaboration with the Solana Foundation, enabling users to make payments using the SGD and USD stablecoins on the Solana infrastructure at high speed and low cost, according to an announcement posted on the project's blog on Tuesday.
“The simultaneous launch of XSGD and XUSD on Solana will be landmark. It connects support from CEX exchanges, AMM liquidation , lending pools, and daily payments on a single high-performance blockchain,” Chia Tianwei Liu, co-founder and CEO of StraitsX.
StraitsX said the expansion is aimed at meeting the growing demand from digital commerce platforms and AI-native applications. Solana is now increasingly used for payments based on the x402 standard — an interoperability standard designed to enable automated transactions between software agents.
XSGD and XUSD reached over $18 billion in on-chain volume.
Currently, XSGD has been deployed on multiple blockchains, including Ethereum, Polygon (Matic), Avalanche, Arbitrum, Zilliqa, Hedera , and XRP Ledger; while XUSD is operating on Ethereum and BNB Smart Chain.
According to data from CoinMarketCap, XSGD has a market Capital of approximately $13 million with a circulating supply of 16.7 million Token, while XUSD has a market Capital of approximately $52 million.
These two stablecoins have processed a combined total of over $18 billion in on-chain volume , according to StraitsX.
Both XSGD and XUSD support the standard x402 base. This feature will also be rolled out on Solana, enabling use cases such as on-chain forex trading between SGD and USD, providing liquidation for AMMs, lending markets, and institutional-grade payment flows.
StraitsX is a Major Payment Institution licensed and operating under the MAS stablecoin regulatory framework. According to the project's whitepaper, both XSGD and XUSD "have been recognized by MAS as compliant with the upcoming stablecoin regulatory framework."
Grab explores stablecoin payments with StraitsX in Southeast Asia.
Last month, Grab — Southeast Asia's largest super app — signed an Mnemonics of understanding with StraitsX to build a Web3-enabled payment layer, integrating e-wallets, programmable payments, and stablecoin settlement mechanisms into everyday consumer transactions.
