Solana will soon support instant on-chain exchanges between Singapore dollars and U.S. dollars, giving users access to the network’s first stablecoin linked to one of Asia’s leading currencies.
Crypto infrastructure firm StraitsX said Tuesday it plans to issue its Singapore dollar stablecoin, XSGD, and U.S. dollar stablecoin, XUSD, on the Solana public blockchain. The launch, targeted for early 2026 and developed in collaboration with the Solana Foundation, will allow users to swap SGD and USD in real time, effectively introducing blockchain-based foreign exchange to the high-speed network.
The rollout is designed to support broader adoption of stablecoins across automated and AI-driven applications on Solana. The network’s x402 payment standard enables applications and AI agents to transfer small amounts programmatically, while Solana’s fast settlement speeds and low fees make it well suited for payment use cases compared with rivals such as Ethereum.
“Demand for stablecoins is increasingly driven by expectations for instant, low-cost and ubiquitous payments,” said Tianwei Liu, CEO and co-founder of StraitsX. “Launching XSGD and XUSD together on Solana brings exchange access, automated market maker liquidity, lending pools and everyday payments onto a single high-performance chain.”
Stablecoins are digital tokens pegged to external assets, such as fiat currencies, and are widely used to reduce exposure to the price volatility seen in other cryptocurrencies. Their role has grown in remittances, cross-border payments and on-chain settlement.
At press time, XSGD had a market capitalization of about $13 million, while XUSD stood at roughly $50 million, according to CoinGecko. XSGD is already available on several blockchains, including Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera and the XRP Ledger, while XUSD currently operates on Ethereum and BNB Smart Chain. StraitsX said the two stablecoins have processed more than $18 billion in on-chain transaction volume.
For Solana, the addition of XSGD marks the network’s first digital version of the Singapore dollar. The blockchain already hosts around $15.7 billion in stablecoins linked to currencies such as the U.S. and Australian dollars but has so far lacked an SGD option, according to DefiLlama.
“Bringing XSGD and XUSD to Solana strengthens the network’s position as a global payments layer,” said Lu Yin, head of APAC at the Solana Foundation. “It opens new opportunities for builders, institutions and users, from instant cross-border settlement to DeFi use cases like lending, borrowing and yield generation.”
