Solana users will soon be able to exchange Singapore dollars (SGD) for US dollars (USD) instantly online, marking the popular high-speed blockchain’s first access to digital tokens pegged to a major Asian currency.
This is because, crypto infrastructure company StraitX said on Tuesday, it is planning to launch its XSGD stablecoin in Singapore dollars and its XUSD stablecoin in US dollars on the Solana public blockchain, creating an easy way to exchange these coins.
Debuting in early 2026, planned in collaboration with the Solana Foundation, will allow instant exchanges between Singapore dollars (SGD) and US dollars (USD) on Solana, according to a press release. Think digital forex, but on blockchain.
Positions StraitX stablecoins for widespread adoption in smart AI tools and automated online economies on Solana. Solana offers a payment standard called x402 that allows computers and artificial intelligence programs to carry out automatic transactions of small amounts (like applications communicating with each other). Blockchain is known to offer faster and cheaper transaction speeds than its main rivals such as Ethereum.
“Stablecoin adoption is increasingly driven by users and businesses who expect payments to be instant, low-cost and available everywhere,” said Tianwei Liu, CEO and co-founder of StraitsX.
“Launching XSGD and
Stablecoins are digital tokens whose value is tied to an external reference, such as a fiat currency. These tokens help investors avoid the price volatility associated with other cryptocurrencies and are increasingly used in remittances and cross-border transactions.
At press time, StraitX’s XSGD and XUSD had a market capitalization of $13 million and $50 million, respectively, according to Coingecko. XSGD is now available on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera and XRPL, while XUSD is available on Ethereum and BNB Smart Chain.
StraitX said the two stablecoins have processed more than $18 billion in on-chain transaction volume.
Solana Gets First SGD Stablecoin
For Solana, the arrival of XSGD offers its users the first digital version of the Singapore dollar. The blockchain already hosts $15.7 billion in stablecoins pegged to currencies such as the US and Australian dollars, but has lacked an SGD option to date, according to data from DefiLlama.
“Welcoming XSGD and
“The addition of native liquidity in SGD and USD further strengthens Solana’s role as a core infrastructure layer for machine- and AI-powered on-chain transactions,” he added.
