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StraitsX to launch XSGD, XUSD stablecoins on Solana in 2026
StraitsX will launch its Singapore dollar-backed XSGD and US dollar-backed XUSD stablecoins on the Solana blockchain in early 2026.
StraitsX, a Singapore-based stablecoin issuer and payments company, said this will make Solana the first public blockchain to support both XSGD and XUSD.
The integration is aimed at enabling real-time SGD and USD settlement on Solana, which is known for low-cost and fast transactions.
StraitsX said its stablecoins have processed over US$18 billion in on-chain volume across multiple blockchains.
The company plans to work with both centralized and decentralized exchanges to support the rollout and create liquidity pools for XSGD and XUSD on Solana.
StraitsX and the Solana Foundation will also address compliance risks as part of the integration.
XSGD and XUSD already operate on blockchains including Ethereum and BNB Smart Chain.
🔗 Source: StraitsX
🧠 Food for thought
Implications, context, and why it matters.
Payment providers can check Solana onramps with PayNow
- Wallet providers plus payment service providers (PSPs) can map which of Solana’s over 20 onramp partners offer PayNow (Singapore’s instant bank transfer system using mobile or ID aliases) or Fast and Secure Transfers (FAST, Singapore’s instant interbank payment network) 4.
- Independent Reserve (Singapore’s first licensed exchange) offers PayNow and FAST plus the MAS Electronic Payment System (MEPS) for SGD deposits, with funds landing in seconds 5.
- Crypto.com’s onramp takes cards but not direct bank transfers in Singapore 6. Merchant acquirers (payment processors that onboard and manage merchants) could stand out with lower fee PayNow to XSGD conversion over 3.99% card fees.
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