Singapore-based stablecoin issuer StraitsX, which is licensed by the Monetary Authority of Singapore, said on October 1 that it plans to issue XSGD and XUSD natively on Monad, an Ethereum Virtual Machine-compatible layer-1 blockchain, in early 2027.

StraitsX said XSGD is set to be the first Singapore dollar-denominated stablecoin issued directly on Monad.

It added that XSGD and XUSD are issued by StraitsX entities licensed as Major Payment Institutions in Singapore, and that both tokens are already live on Solana.

The company also said the Monetary Authority of Singapore has recognized XSGD and XUSD as substantively compliant with the upcoming single-currency stablecoin framework, though public materials reviewed did not show that phrase as a formal MAS designation.

The planned Monad rollout remains subject to technical, regulatory, and compliance requirements.

🔗 Source: StraitsX

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