Singapore-based StraitsX plans to launch its Singapore dollar and U.S. dollar stablecoins on Solana (SOL) by early 2026.
The move marks the first Singapore dollar-pegged stablecoin on the high-speed blockchain.
StraitsX announced the expansion in collaboration with the Solana Foundation on Tuesday.
The rollout will enable instant foreign exchange between SGD and USD on Solana's network.
"Launching XSGD and XUSD together on Solana will be game-changing," said Tianwei Liu, co-founder and CEO of StraitsX.
What Happened
StraitsX will bring its XSGD and XUSD stablecoins to Solana's blockchain infrastructure.
The integration will leverage Solana's high-speed, low-cost network for real-time settlement.
Major centralized exchanges are already in the pipeline to support the Solana-native stablecoins.
StraitsX is working with decentralized exchanges to establish liquidity pools and lending markets.
XSGD currently operates on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRP Ledger.
XUSD is available on Ethereum and BNB Smart Chain.
The two stablecoins have processed more than $18 billion in combined on-chain transaction volume.
XSGD has a market capitalization of $13 million with 16.7 million tokens in circulation.
XUSD has a market capitalization of $52 million.
Both stablecoins natively support the x402 interoperability standard.
This functionality will enable automated machine-to-machine and AI-agent micropayments on Solana.
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Why It Matters
The expansion targets growing demand from AI-native applications and digital commerce platforms.
Solana has increasingly been used for x402-based payments, an emerging standard for automated transactions.
"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," said Lu Yin, head of APAC at the Solana Foundation.
StraitsX operates as a licensed Major Payment Institution under the Monetary Authority of Singapore's stablecoin framework.
Both XSGD and XUSD have been acknowledged by MAS as compliant with Singapore's upcoming stablecoin regulatory framework.
The launch will enable on-chain foreign exchange between Singapore dollars and U.S. dollars on a single blockchain.
Last month, Grab, Southeast Asia's largest super-app, signed an exploratory memorandum of understanding with StraitsX.
The partnership aims to build a Web3-enabled settlement layer integrating stablecoin payments into everyday consumer transactions.
If approved by regulators, Grab users across Southeast Asia could hold and spend XSGD and XUSD directly within the app.
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