In a groundbreaking announcement, StraitsX, a licensed Major Payment Institution regulated by the Monetary Authority of Singapore (MAS), has unveiled plans to launch its Singapore dollar-backed XSGD and U.S. dollar-backed XUSD stablecoins on the Solana blockchain by early 2026. This strategic move aims to propel real-world payments and institutional crypto adoption across Asia, utilizing Solana’s high-speed, low-cost, and scalable infrastructure.
Why Solana?
Solana, known for its rapid transaction speeds and low fees, has become a preferred platform for decentralized finance (DeFi), payments, and automated financial activity. Launching XSGD and XUSD on Solana enables users to seamlessly access centralized exchanges, decentralized liquidity solutions, lending protocols, and everyday payments on a single, unified ecosystem. Solana’s integration of the x402 standard further enhances capabilities for automated, machine-to-machine transactions, opening doors for AI-driven use cases.
Stablecoins Built for Real-World Utility
The success of XSGD and XUSD is evident in their combined $18 billion in on-chain transaction volume across platforms like Ethereum, Polygon, Arbitrum, and Hedera. These regulated stablecoins are designed to serve growing markets in cross-border settlements, instant payments, and DeFi innovations, with a strong focus on Southeast Asia.
StraitsX’s licensing under MAS ensures compliance with Singapore’s forthcoming stablecoin regulatory framework, making the stablecoins trusted tools for enterprises looking to adopt blockchain-based financial solutions. This regulatory clarity distinguishes them from competitors, reducing uncertainty for institutional adoption.
Mass Adoption Through Partnerships
To drive mainstream adoption, StraitsX is exploring partnerships with applications like Southeast Asia’s super-app, Grab. If approved, this collaboration could bring XSGD and XUSD directly to consumers, enabling digital wallets, programmable payments, and day-to-day spending—all integrated into a single app environment.
Blockchain for the Future
By choosing Solana, StraitsX is setting new benchmarks for speed, cost-efficiency, and scalability in blockchain-based financial tools. The move also underscores the confidence that businesses are placing in regulated, high-performance blockchains for the future of payments across Asia.
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