Solana users could soon exchange Singapore Dollars (SGD) for United States Dollars (USD) instantly online, marking the popular high-speed blockchain’s first access to digital tokens tied to one of Asia’s major currencies.
Indeed, crypto infrastructure company StraitX said on Tuesday that it plans to launch its Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the public Solana blockchain, creating a simple way to trade these currencies.
The early 2026 debut, targeted in collaboration with the Solana Foundation, will enable instant exchanges between Singapore Dollars (SGD) and US Dollars (USD) on Solana, according to a press release. Think digital forex, but on the blockchain.
It positions StraitX stablecoins for widespread adoption in intelligent AI tools and automated online economies on Solana. Solana offers a payment standard called x402 that allows computers and AI programs to automatically perform small-dollar transactions (like applications that communicate with each other). Blockchain is known for offering faster and cheaper transaction speeds than its main competitors such as Ethereum.
“Stablecoin adoption is increasingly driven by users and businesses who expect payments to be instant, inexpensive and available everywhere,” said Tianwei Liu, CEO and co-founder of StraitsX.
“The joint launch of XSGD and
Stablecoins are digital tokens whose value is linked to an external reference, such as a fiat currency. These tokens help investors circumvent the price volatility associated with other cryptocurrencies and are increasingly used in remittances and cross-border transactions.
At press time, StraitX’s XSGD and XUSD had a market cap of $13 million and $50 million, respectively, according to Coingecko. XSGD is already available on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera and XRPL, while XUSD is available on Ethereum and BNB Smart Chain.
StraitX said the two stablecoins have processed over $18 billion in on-chain transaction volume.
Solana obtains the first ever SGD stablecoin
For Solana, the arrival of XSGD offers its users the first digital version of the Singapore dollar. The blockchain already hosts $15.7 billion in stablecoins pegged to currencies like the US and Australian dollars, but until now it lacked an SGD option, according to data from DefiLlama.
“Hosting XSGD and
“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,” added.
