Solana users will soon be able to swap Singapore dollars (SGD) and U.S. dollars (USD) instantly on-chain, marking the network’s first integration of a stablecoin tied to the Singapore dollar.
Crypto infrastructure firm StraitsX announced Tuesday plans to launch its Singapore dollar stablecoin, XSGD, alongside its U.S. dollar counterpart, XUSD, on the Solana blockchain. The rollout, expected in early 2026 and developed in partnership with the Solana Foundation, will allow real-time SGD-USD conversions, effectively bringing blockchain-based foreign exchange to Solana’s high-speed network.
The launch is aimed at expanding stablecoin adoption across automated and AI-powered applications on Solana. The blockchain’s x402 payment standard enables applications and AI systems to transact small amounts programmatically, while Solana’s fast processing speeds and low fees make it a competitive option compared with Ethereum.
“Users and businesses increasingly expect payments to be instant, low-cost and universally accessible,” said Tianwei Liu, CEO and co-founder of StraitsX. “Launching XSGD and XUSD together on Solana integrates centralized exchange support, AMM liquidity, lending pools, and everyday payments on a single high-performance chain.”
Stablecoins are digital tokens pegged to fiat currencies, helping users avoid the volatility common in other cryptocurrencies. They are widely used in remittances, cross-border payments, and on-chain settlements.
At press time, XSGD had a market capitalization of approximately $13 million, while XUSD stood at around $50 million, according to CoinGecko. XSGD is already available on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and the XRP Ledger, while XUSD operates on Ethereum and BNB Smart Chain. Together, the two stablecoins have processed more than $18 billion in on-chain transactions.
For Solana, XSGD represents the first Singapore dollar stablecoin on the network. Solana already hosts about $15.7 billion in stablecoins tied to currencies like the U.S. and Australian dollars but has lacked an SGD option, according to DefiLlama.
“Adding XSGD and XUSD strengthens Solana’s role as a global payments network,” said Lu Yin, head of APAC at the Solana Foundation. “It opens new possibilities for builders, institutions, and users—from instant cross-border settlements to DeFi applications such as lending, borrowing, and yield generation.”
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