Users of Solana may soon exchange Singapore dollars (SGD) for U.S. dollars (USD) instantly online, marking the first time the high-speed blockchain connects with digital tokens associated with a leading Asian currency.
According to crypto infrastructure firm StraitX, there are plans to launch its stablecoin for Singapore dollars (XSGD) and U.S. dollars (XUSD) on the Solana public blockchain, facilitating seamless currency exchanges.
The anticipated launch in early 2026, in collaboration with the Solana Foundation, will allow for instant conversions between SGD and USD on Solana, as detailed in a press release. Think of it as digital forex on the blockchain.
This initiative positions StraitX’s stablecoins for broad adoption in AI-driven tools and automated online economies on Solana. The blockchain supports a payment protocol known as x402, which enables automatic transactions of small amounts by computers and AI programs (like communication between apps). It is recognized for delivering superior speed and lower costs in transactions compared to competitors such as Ethereum.
“Adoption of stablecoins is increasingly influenced by users and businesses seeking instant, low-cost payments that are universally accessible,” stated Tianwei Liu, CEO and Co-Founder of StraitX.
“The simultaneous launch of XSGD and XUSD on Solana will be revolutionary. It integrates CEX support, AMM liquidity, lending pools, and everyday payments on a single high-speed chain. This also brings us closer to a scenario where digital money flows across networks with the same ease as information today,” Liu remarked.
Stablecoins are digital assets pegged to a reference point, often a fiat currency, thus allowing investors to avoid the volatility common in other cryptocurrencies. They are increasingly used for remittances and cross-border transactions.
As of now, StraitX’s XSGD and XUSD have market capitalizations of $13 million and $50 million, respectively, according to Coingecko. XSGD is already operational on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL, while XUSD is accessible on Ethereum and BNB Smart Chain.
StraitX disclosed that these two stablecoins have achieved over $18 billion in on-chain transaction volume.
Solana Welcomes Its First SGD Stablecoin
For Solana, the introduction of XSGD offers users the first digital iteration of the Singapore dollar. The blockchain currently supports $15.7 billion in stablecoins linked to currencies like the U.S. and Australian dollars, yet has previously lacked an SGD option, based on DefiLlama data.
“Bringing both XSGD and XUSD to Solana enhances the network’s position as a leading global payments chain and opens up new avenues for developers, institutions, and users—from instant cross-border settlements to DeFi applications such as lending, borrowing, and yield generation,” noted Lu Yin, head of APAC at the Solana Foundation.
“The addition of native SGD and USD liquidity further fortifies Solana’s role as a foundational layer for AI-driven on-chain transactions,” he added.
