StraitsX, a Singapore-based stablecoin issuer, is set to expand its XSGD and XUSD stablecoins to the Solana blockchain by early 2026. This move aims to enhance transaction efficiency for payments and digital commerce, particularly as the demand for programmable funds continues to rise.
Integration Plans for Solana
The deployment was announced alongside the Solana Foundation, detailed in a recent blog post. Users will soon be able to settle transactions using XSGD and XUSD directly on the Solana platform, benefiting from faster settlement times and lower transaction fees.
This integration will consolidate multiple financial functions onto a single blockchain, encompassing centralized exchange support, decentralized liquidity pools, lending markets, and consumer payments. StraitsX views Solana as an optimal base layer to support complex payment flows that demand speed and scalability without compromising reliability.
Demand for AI and Commerce
StraitsX aims to cater to the increased utilization of digital commerce platforms and AI-native applications through this expansion. Solana has witnessed a surge in adoption for x402-based payments, an interoperability standard enabling automated transactions between software agents.
XSGD and XUSD already natively support the x402 standard, and this capability will extend to the Solana blockchain. As a result, developers and institutions will be empowered to implement automated payment use cases, including on-chain currency exchange between SGD and USD, automated liquidity provisioning by market makers, lending protocols, and institutional settlement processes.
On-Chain Volume and Token Data
XSGD is currently available across multiple blockchains, including Ether, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and the XRP Ledger. XUSD is presently accessible on Ethereum and BNB Smart Chain.
As of now, XSGD boasts a market capitalization of $13 million, with a circulating supply of 16.7 million tokens, while XUSD has a market cap of $52 million. Collectively, the two stablecoins have processed over $18 billion in on-chain transaction volume, underscoring their growing significance in cross-chain payments and settlement activities.
Regulatory Partnership and Grab
StraitsX operates as a major licensed payment institution under Singapore’s Monetary Authority of Singapore (MAS) stablecoin framework. Both XSGD and XUSD have been recognized by the MAS as compliant with the forthcoming regulatory framework for stablecoins, as outlined in their white papers.
Additionally, the company is exploring consumer applications. Last month, Grab signed a memorandum of understanding with StraitsX to develop a Web3-compatible wallet layer for Southeast Asia. Subject to regulatory approval, this initiative would enable Grab users to hold and spend XSGD and XUSD directly within the app, integrating digital wallets, programmable payments, and stablecoin settlements into daily transactions.
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