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StraitX is planning to launch a Singapore Dollar-backed stablecoin on Solana in early 2026.

2025.12.16 15:23:17

On December 16, StraitX—a cryptocurrency infrastructure firm—announced plans to launch two stablecoins on the Solana public blockchain in early 2026: XSGD (tethered to the Singapore Dollar) and XUSD (tethered to the U.S. Dollar). The company will collaborate with the Solana Foundation to promote the rollout. At launch, users will be able to instantly convert SGD and USD directly on Solana’s chain—functioning as “on-chain forex trading.” This marks Solana’s first integration of a Singapore Dollar stablecoin. Currently, the network hosts roughly $15.7 billion in stablecoins pegged to fiat currencies like the U.S. Dollar and Australian Dollar, but SGD was not previously supported. StraitX noted that XSGD and XUSD will operate on Solana’s high-speed, low-cost environment, catering to use cases including AI automated payments, DeFi applications, cross-border settlements, and everyday transactions. The stablecoins will also be compatible with centralized exchanges (CEXs), automated market maker (AMM) liquidity pools, and lending protocols.
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