StraitsX to Launch XSGD and XUSD on Solana Blockchain

StraitsX plans to launch its Singapore dollar-pegged stablecoin, XSGD, on the Solana blockchain. The Singapore-based crypto infrastructure firm will also launch the US dollar-pegged stablecoin, XUSD, on the Solana blockchain in early 2026. This move will enable near-instant digital currency exchange between the two fiat currencies.

The launch will mark a milestone for Solana, which has never before hosted a stablecoin pegged to the Singaporean dollar. Once live, the users on the blockchain will be able to swap Singaporean dollars with the USD seamlessly, effectively creating a blockchain-based foreign exchange market.

StraitsX and Solana Collaboration

According to StraitsX, the launch will be carried out in collaboration with the Solana Foundation and is designed to support low-cost and instant transactions. Solana’s infrastructure is increasingly being positioned as the backbone of automated payments, machine-to-machine commerce, and AI-driven applications. The platform is known for its cheaper and faster processing time than its competitors.

Tianwei Liu, CEO and Co-Founder of StraitsX, said, “Stablecoin adoption is increasingly driven by users and businesses who expect payments to be instant, low-cost, and available everywhere. 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.”

Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to external assets such as fiat currencies. They have gained traction as tools for remittance and cross-border transactions.

At the time this launch news was made public, XSDG and XUSD had a market capitalization of $13 million and $50 million, respectively. The XSDB is already available on Ethereum, Avalanche, Polygon, Arbitrum, Hedera, Ziliqa, and XRPL. On the other hand, the XUSD is only available on BNB Smart Chain and Ethereum. Together, the two stablecoins have processed more than $18 billion in on-chain transaction volume.

For Solana, the addition of XSGD fills a notable gap. The network already hosts roughly $15.7 billion in stablecoins tied to currencies such as the Australian dollar and USD. Lu Yin, head of APAC at The Solana Foundation, said:

“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. 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.”