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StraitsX to debut Singapore and U.S. dollar
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StraitsX to debut Singapore and U.S. dollar
StraitsX to debut Singapore and U.S. dollar stablecoins on Solana for quick currency exchange
StraitsX to debut Singapore and U.S. dollar stablecoins on Solana for quick currency exchange
The debut will enable instant swaps between SGD and USD on Solana, facilitating digital forex trading.
By Omkar Godbole, AI Boost|Edited by Sam Reynolds
Updated Dec 16, 2025, 8:56 a.m. Published Dec 16, 2025, 6:38 a.m.
What to know:
- StraitsX is looking to debut its XSGD and XUSD stablecoins on Solana in early 2026.
- The debut will enable instant swaps between SGD and USD on Solana, facilitating digital forex trading.
Solana users could soon swap Singapore dollars (SGD) for U.S. dollars (USD) instantly online, marking the popular high speed blockchain's first access to digital tokens tied to one of the premier Asian currencies.
That's because, crypto infrastructure firm StraitsX said Tuesday, that it's planning to launch its Singapore dollar stablecoin XSGD and U.S. dollar stablecoin XUSD on the Solana public blockchain, creating an easy to way to exchange these currencies.
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The early 2026 debut, targeted in collaboration with the Solana Foundation, will enable instant swaps between Singapore dollars (SGD) and U.S. dollars (USD) on Solana, per a press release. Think digital forex, but on blockchain.
It positions StraitsX's stablecoins for widespread adoption in smart AI tools and automated online economies on Solana. Solana offers a payment standard called x402 that lets computers and AI programs automatically transact tiny amounts (like apps talking to each other). The blockchain is know to offer faster and cheaper transaction speeds than its main rivals such as Ethereum.
"Stablecoin adoption is increasingly driven by users and businesses who expect payments to be instant, low-cost, and available everywhere," Tianwei Liu, CEO and Co-Founder of StraitsX, said.
"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,' Liu noted.
Stablecoins are digital tokens whose value is pegged to an external reference, such as a fiat currency. These tokens help investors bypass price volatility associated with other cryptocurrencies and are increasingly being used in remittances and cross-border transactions.
At press time, StraitsX's XSGD and XUSD had a market cap of $13 million and $50 million, respectively, according to Coingecko. XSGD is already live on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL, while XUSD is available on Ethereum and BNB Smart Chain.
StraitsX said that the two stablecoins have processed over $18 billion in on-chain transaction volume.
Solana gets first-ever SGD stablecoin
For Solana, XSGD's arrival delivers its users the first digital version of the Singapore dollar. The blockchain already hosts $15.7 billion in stablecoins tied to currencies like the U.S. and Australian dollars, but has lacked an SGD option to date, per DefiLlama data.
"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," Lu Yin, head of APAC at The Solana Foundation, said.
"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," added.
08:57 UTC: Corrects typo in headline and lede. The previous version erroneously said StraitX.
Solana NewsStablecoinSingapore
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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