StraitsX has announced a collaboration with the Solana Foundation to bring its Singapore dollar–backed stablecoin (XSGD) and U.S. dollar–backed stablecoin (XUSD) to the Solana blockchain, marking a significant expansion of its on-chain payments infrastructure.
The initial rollout is targeted for early 2026, according to the announcement.
Solana to Host Both Stablecoins on a Single Layer 1
Under the partnership, Solana will become the first Layer 1 blockchain to host both XSGD and XUSD simultaneously. StraitsX said this unified setup is designed to support on-chain foreign exchange (FX) use cases and real-time cross-border settlement, leveraging Solana’s high throughput and low transaction costs.
The integration is positioned as a form of blockchain-based digital FX, enabling near-instant swaps between SGD and USD without relying on traditional intermediaries.
Focus on Real-Time FX and Programmable Payments
StraitsX said the launch is aimed at facilitating instant currency conversion and settlement for businesses and developers operating on-chain. By deploying both stablecoins on Solana, users will be able to move seamlessly between SGD and USD within a single ecosystem.
Both XSGD and XUSD will also support the x402 payment standard, enabling machine-to-machine payments, automated transactions, and AI-agent micropayments. This positions the stablecoins for use within what StraitsX described as the emerging “agentic economy,” where software agents and machines transact autonomously.
Liquidity Strategy Across Exchanges
To support adoption, StraitsX plans to work with centralized and decentralized exchanges to build deep liquidity pools for XSGD and XUSD on Solana. The company said liquidity provisioning will be a priority to ensure efficient FX swaps and settlement at scale.
The Solana expansion follows the issuance of XSGD on Ethereum, Polygon, and Coinbase’s Base Layer 2, extending the stablecoin’s multichain footprint.
Regulated Stablecoin Issuer With Growing On-Chain Volume
StraitsX operates as a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS). The company said its stablecoins have processed more than $18 billion in cumulative on-chain transaction volume to date.
By expanding to Solana, StraitsX is aiming to combine regulatory-grade stablecoins with high-performance public blockchain infrastructure, targeting use cases ranging from cross-border payments and FX settlement to programmable finance and AI-driven transactions.
