April 02, 2026
By Shubhii Verma
StraitsX has launched two of its stablecoins, XSGD (pegged to the Singapore dollar) and XUSD (pegged to the US dollar), on the Solana blockchain. This move puts both currencies inside the same fast, low-cost network, making it easier for users to send, swap, and settle payments between SGD and USD without leaving the blockchain.
Solana is known for processing transactions very quickly and cheaply compared to many other networks. Because of this, it has become popular for payments, trading, and decentralised finance (DeFi) activity. By choosing Solana, StraitsX is focusing on making its stablecoins useful for real transactions, not just issuing tokens that sit idle in wallets.
With XSGD and XUSD now live on the same chain, users can move between Singapore dollar and US dollar value directly on-chain. This creates a simple digital foreign exchange (FX) route. In the past, moving between currencies on crypto networks often required jumping across different blockchains or relying on off-chain systems, which added delays, fees, and complexity. Now, the process can happen smoothly within one ecosystem.
StraitsX says the next step is not about creating more tokens, but about building connections. The company plans to work closely with centralised exchanges, decentralised exchanges, automated market makers (AMMs), and lending platforms on Solana. The goal is to increase liquidity so that both XSGD and XUSD can be easily traded, borrowed, lent, and used in various financial applications.
This is important because stablecoins only become truly valuable when they are part of active financial flows. If they are not supported by exchanges, lending markets, or payment systems, they do not help much in moving money efficiently. StraitsX wants its stablecoins to be part of everyday crypto activity like payments, treasury management, cross-border transfers, and programmable settlements.
If this strategy works, Solana could become an important hub for SGD-USD liquidity and cross-border digital payments in the region, helping stablecoins play a bigger role in real financial use cases.
