Solana users could soon be able to exchange Singapore dollars (SGD) for US dollars (USD) directly online, marking the popular high-speed blockchain’s first foray into digital tokens tied to one of the major Asian currencies.
That’s because crypto infrastructure company StraitX said on Tuesday it plans to launch its Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on Solana’s public blockchain, creating an easy way to exchange these currencies.
The early 2026 debut, planned in partnership with the Solana Foundation, will enable instant swaps between Singapore dollars (SGD) and US dollars (USD) on Solana, a press release said. Think of digital forex, but on blockchain.
It positions StraitX’s 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 AI programs to automatically settle small amounts of money (like apps talking to each other). The 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, cheap 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.
According to Coingecko, StraitX’s XSGD and XUSD had a market capitalization of $13 million and $50 million respectively at the time of writing. XSGD is already live 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 volumes.
Solana gets the very first SGD stablecoin
For Solana, the arrival of XSGD provides its users with the first digital version of the Singapore dollar. The blockchain already houses $15.7 billion in stablecoins pegged to currencies like the US and Australian dollars, but has not had an SGD option until now, according to data from DefiLlama.
“Welcoming both XSGD and
“The addition of native SGD and USD liquidity further strengthens Solana’s role as a core infrastructure layer for AI and machine-driven on-chain transactions,” he added.