- StraitX plans to launch its XSGD and XUSD stablecoins on the Solana blockchain in early 2026.
- The rollout will allow instant on-chain swaps between Singapore dollars and US dollars on Solana.
- XSGD will become the first Singapore dollar–backed stablecoin available on the Solana network.
Crypto infrastructure firm StraitX said it plans to launch its Singapore dollar stablecoin, XSGD, and its US dollar stablecoin, XUSD, on the Solana blockchain in early 2026.
The launch is being developed in collaboration with the Solana Foundation, according to a company release.
Users on Solana will now be able to swap Singapore dollars (SGD) and US dollars (USD) instantly through blockchain-based tokens. The offering marks the first time Solana will support a stablecoin tied to the Singapore dollar.
Related: Visa Adds Stablecoin Consulting for Banks After Settlement Volume Hits $3.5 Billion
First SGD stablecoin arrives on Solana
XSGD is already live on several other blockchains, including Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and the XRP Ledger.
XUSD is currently available on Ethereum and BNB Smart Chain. Once launched on Solana, users will be able to move between SGD and USD directly on the network.
At the time of announcement, XSGD had a market value of about $13 million, while XUSD stood at roughly $50 million, based on public market data. StraitX said the two stablecoins have processed more than $18 billion in on-chain transaction volume so far.
Solana currently hosts more than $15 billion in stablecoins tied to currencies such as the US and Australian dollars, but it has not previously supported a Singapore dollar-based token.
Focus on fast payments and automated systems
StraitX said the Solana launch is aimed at supporting fast, low-cost digital payments and automated online systems. Solana is known for its high-speed transactions and lower fees compared with other major blockchains.
The network also supports a payment standard called x402, which allows software programs and artificial intelligence systems to send small payments to each other automatically.
StraitX said this makes Solana a strong platform for stablecoin use in automated services and digital economies.
Meanwhile, asset managers Invesco and Galaxy recently announced a regulated exchange-traded product that tracks the price of Solana, giving traditional investors exposure to the network.
Also, real-world asset platform Ondo Finance said it plans to bring tokenized US stocks and exchange-traded funds to Solana next year.
Solana has also confirmed that XRP will be added to the network through a wrapped token called wXRP, which will be backed one-to-one by native XRP.
Related: South Korea Stablecoin Bill Misses December 10 Deadline as Central Bank Objects
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