StraitsX to Launch SGD and USD Stablecoins on Solana for Instant Currency Swaps
- StraitsX plans to debut its Singapore dollar stablecoin XSGD and U.S. dollar stablecoin XUSD on the Solana blockchain in early 2026.
- This will enable instant online swaps between Singapore dollars (SGD) and U.S. dollars (USD), enhancing cross-border transactions.
- At present, XSGD has a market cap of $13 million, while XUSD’s market cap stands at $50 million, according to Coingecko.
- StraitsX’s stablecoins have processed over $18 billion in on-chain transaction volume across various platforms.
- Solana currently hosts $15.7 billion in stablecoins tied to other currencies but lacked a digital version of the Singapore dollar until now.
The introduction of XSGD and XUSD positions Solana as a leading global payments chain, facilitating instant settlements and expanding opportunities for decentralized finance applications like lending and borrowing.
With the upcoming launch, StraitsX aims to enhance liquidity on Solana by integrating native SGD and USD options into its ecosystem, further solidifying its role in digital transactions.(Source)
