Singapore’s StraitsX to expand XSGD and XUSD stablecoins onto Solana

• The integration will support automated payments and onchain SGD-USD exchange.
• XSGD and XUSD have processed more than $18 billion in onchain transactions.
• StraitsX operates under MAS regulation and is exploring payments with Grab.

Singapore-based stablecoin issuer StraitsX plans to extend its Singapore dollar-backed XSGD and US dollar-backed XUSD to the Solana blockchain by early 2026.

The move reflects a broader push to place regulated stablecoins at the centre of high-speed blockchain settlement, particularly for payments, digital commerce, and emerging AI-driven use cases.

By tapping into Solana’s low-cost and high-throughput infrastructure, StraitsX aims to make SGD- and USD-denominated transactions more efficient across decentralised finance, institutional flows, and everyday payments.

The expansion also positions the company to meet rising demand for programmable money within interoperable, software-native environments.

Solana integration plans

The rollout was announced in collaboration with the Solana Foundation and detailed in a Tuesday blog post.

Once live, users will be able to settle transactions using XSGD and XUSD directly on Solana, taking advantage of faster settlement times and lower transaction fees.

StraitsX said the integration brings multiple financial functions together on a single blockchain, spanning centralised exchange support, decentralised liquidity pools, lending markets, and consumer payments.

The company views Solana as a suitable base layer to support complex payment flows that require speed and scalability without sacrificing reliability.

Demand from AI and commerce

StraitsX said the expansion is designed to support increasing usage from digital commerce platforms and AI-native applications.

Solana has seen growing adoption for x402-based payments, an interoperability standard that enables automated transactions between software agents.

Both XSGD and XUSD already support the x402 standard natively, and this capability will extend to Solana.

As a result, developers and institutions will be able to deploy automated payment use cases, including onchain foreign exchange between SGD and USD, automated market maker liquidity provisioning, lending protocols, and institutional-grade settlement processes.

Onchain volume and token data

XSGD is already live across multiple blockchains, including Ether, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and the XRP Ledger.

XUSD is currently available on Ethereum and BNB Smart Chain.

XSGD has a market capitalisation of $13 million with a circulating supply of 16.7 million tokens, while XUSD has a market capitalisation of $52 million.

Combined, the two stablecoins have processed more than $18 billion in onchain transaction volume, highlighting their growing role in cross-chain payments and settlement activity.

Regulation and Grab partnership

StraitsX operates as a licensed Major Payment Institution under the Monetary Authority of Singapore stablecoin framework.

Both XSGD and XUSD have been acknowledged by the MAS as compliant with the upcoming stablecoin regulatory framework, according to their white papers.

Separately, the company has moved to explore consumer-facing applications.

Last month, Grab signed an exploratory memorandum of understanding with StraitsX to develop a Web3-enabled settlement layer for Southeast Asia.

Subject to regulatory approval, the initiative would allow Grab users to hold and spend XSGD and XUSD directly within the app, integrating digital wallets, programmable payments, and stablecoin clearing into daily transactions.