Cryptocurrency infrastructure company StraitX announced plans to launch Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the Solana public blockchain, providing users with fast, low-cost blockchain-based currency exchange services. This marks the first time that a Singapore dollar-pegged stablecoin asset has been introduced into the Solana ecosystem.
According to official disclosures, StraitX will collaborate with the Solana Foundation to officially launch these two stablecoins in early 2026. At that time, Solana users will be able to perform instant on-chain exchanges between Singapore dollar (SGD) and US dollar (USD), which can be viewed as a decentralized, automated digital foreign exchange infrastructure.
StraitX stated that this deployment will deeply integrate XSGD and XUSD into the Solana ecosystem, including automated market makers (AMM), lending protocols, decentralized payment scenarios, as well as emerging smart agents and AI automation tools. Solana offers high throughput and low transaction fees, and supports the x402 payment standard, enabling applications and AI systems to automatically handle small on-chain payments, creating an ideal environment for high-frequency stablecoin usage.
Tianwei Liu, CEO and co-founder of StraitX, pointed out that the rising demand for instant, low-cost, 24/7 payments is a core driver for the rapid adoption of stablecoins. He stated that launching XSGD and XUSD simultaneously on Solana will integrate centralized exchange liquidity, DeFi applications, and daily payments into one high-performance network, helping to promote the free global circulation of digital currencies as easily as information.
Data shows that, so far, XSGD has a market cap of approximately $13 million, while XUSD’s market cap is about $50 million. XSGD has been deployed on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL among other blockchains, while XUSD is circulating on Ethereum and BNB Smart Chain. StraitX indicated that the total on-chain trading volume of these two stablecoins has exceeded $18 billion.
For the Solana ecosystem, the introduction of XSGD is a milestone. According to DefiLlama data, Solana currently has about $15.7 billion in stablecoin supply, mainly anchored to USD and AUD, but previously lacked a Singapore dollar stablecoin. Lu Yin, head of the Solana Foundation Asia-Pacific region, said that the addition of XSGD and XUSD will further strengthen Solana’s core position in global payments, cross-border settlements, and AI-driven on-chain economies.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Last week SOL spot ETF saw net inflows of $21.1 million, with Bitwise BSOL recording weekly net inflows exceeding $20 million.
According to SoSoValue data, from March 16-20, SOL spot ETFs saw net inflows of $21.1 million, primarily from Bitwise ETF BSOL with weekly net inflows of $20.9863 million and historical cumulative net inflows reaching $803 million. Fidelity ETF FSOL experienced net outflows of $1.12 million. The total assets under management for SOL spot ETFs currently stands at $875 million.
GateNews7m ago
Forward Industries Funds $27.4M Share Buyback, Deepens Solana Treasury Focus
Forward Industries is initiating a $27.4 million share buyback funded by a $40 million loan backed by staked Solana, amidst declining stock and crypto prices. This strategy aims to enhance shareholder value and reduce costs while navigating a challenging market.
LiveBTCNews12h ago
Claude AI Predicts the Price of Solana and XRP If the Clarity Act Doesn’t Pass in 2026
As of March 2026, the CLARITY Act has been stuck for months. However, we’ve finally seen a breakthrough with the agreement in principle between the key senators on the debate surrounding stablecoins and yield.
The Senate Banking Committee is set to mark the bill in mid to late April. However,
CaptainAltcoin13h ago
Solana reaches the top for the first time in stablecoin trading volume
In February 2026, Solana surpassed Ethereum in stablecoin transaction volume, marking a significant shift in the market after Ethereum held dominance in 2024. The increase in Solana's usage reflects its growing role in actual transactions.
TapChiBitcoin03-22 02:32
