Solana will soon support instant on-chain exchanges between Singapore dollars (SGD) and U.S. dollars (USD), marking the blockchain’s first stablecoin tied to the Singapore dollar.
Crypto infrastructure firm StraitsX announced Tuesday that it plans to launch its Singapore dollar stablecoin, XSGD, alongside its U.S. dollar stablecoin, XUSD, on Solana. The rollout, expected in early 2026 and developed in partnership with the Solana Foundation, will enable real-time SGD-USD swaps, effectively bringing digital foreign exchange to the high-speed network.
The move is aimed at boosting adoption of stablecoins across automated and AI-powered applications. Solana’s x402 payment standard allows applications and AI systems to transact small amounts programmatically, while its fast processing speeds and low fees make it more efficient than networks like Ethereum.
“Stablecoin adoption is increasingly driven by users and businesses who expect instant, low-cost, and global payments,” said Tianwei Liu, CEO and co-founder of StraitsX. “Launching XSGD and XUSD together on Solana integrates exchange access, AMM liquidity, lending pools, and everyday payments on a single high-performance chain.”
Stablecoins are digital tokens pegged to fiat currencies, offering protection against volatility and facilitating cross-border transactions. XSGD and XUSD have already processed over $18 billion in on-chain volume, with market caps of approximately $13 million and $50 million, respectively, and are live on multiple blockchains including Ethereum, Polygon, Avalanche, and BNB Smart Chain.
For Solana, XSGD is its first Singapore dollar stablecoin. The blockchain already hosts roughly $15.7 billion in stablecoins pegged to other currencies but lacked an SGD option, according to DefiLlama.
“Adding XSGD and XUSD expands Solana’s role as a global payments network and unlocks opportunities for builders, institutions, and users—from cross-border settlements to DeFi applications like lending, borrowing, and yield generation,” said Lu Yin, head of APAC at the Solana Foundation.
