Solana users will soon be able to instantly exchange Singapore dollars (SGD) for U.S. dollars (USD) online, marking the first time the popular high-speed blockchain has a digital token pegged to one of the major Asian currencies.
That’s because crypto infrastructure company StraitX said on Tuesday that it plans to launch the Singapore dollar stablecoin XSGD and the U.S. dollar stablecoin XUSD on the Solana public blockchain, creating an easy way to exchange these currencies.
According to a press release, the project will debut in early 2026 and aims to work with the Solana Foundation to enable instant exchange between the Singapore Dollar (SGD) and the United States Dollar (USD) on Solana. Think digital FX, but on the blockchain.
It positions StraitX’s stablecoin for widespread adoption of smart artificial intelligence tools and automated online economies on Solana. Solana provides a payment standard called x402 that allows computers and AI programs to automatically conduct small transactions (just like applications communicate with each other). Blockchain is known to offer faster and cheaper transaction speeds than major competitors such as Ethereum.
“Stablecoin adoption is increasingly driven by users and businesses who want payments to be instant, low-cost and available everywhere,” said Tianwei Liu, CEO and co-founder of StraitsX.
“Launching XSGD and XUSD simultaneously on Solana is a game changer. It combines CEX support, AMM liquidity, lending pools, and daily payments on one high-performance chain. It also brings us closer to a world where digital currencies move around the network as easily as information does today,” Liu noted.
A stablecoin is a digital token whose value is pegged to an external reference, such as a fiat currency. The tokens help investors bypass the price swings associated with other cryptocurrencies and are increasingly used for remittances and cross-border transactions.
According to Coingecko, as of press time, StraitX’s XSGD and XUSD have market caps of $13 million and $50 million respectively. XSGD is already running on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera and XRPL, while XUSD is already available on Ethereum and BNB smart chains.
StraitX said the two stablecoins have processed more than $18 billion in on-chain transaction volume.
Solana gets the first SGD stablecoin
For Solana, the arrival of XSGD provides its users with the first digital version of the Singapore dollar. The blockchain already hosts $15.7 billion worth of stablecoins pegged to currencies such as the U.S. dollar and Australian dollar, according to DefiLlama, but has so far lacked a Singapore dollar option.
“The addition of XSGD and XUSD to Solana expands the network’s status as the world’s top payment chain and brings new opportunities to builders, institutions and users, from instant cross-border settlement to DeFi applications such as lending and revenue generation,” said Lu Yin, Asia Pacific head of the Solana Foundation.
Adding: “The increased local SGD and USD liquidity further enhances Solana’s role as the core infrastructure layer for AI and machine-driven on-chain transactions.”