- The integration will support automated payments and on-chain SGD-USD currency conversions.
- XSGD and XUSD have processed more than $18 billion in on-chain transactions.
- StraitsX operates under MAS regulation and is exploring payments with Grab.
StraitsX, a Singapore-based stablecoin issuer, plans to expand its Singapore dollar–backed XSGD and US dollar–backed XUSD onto the Solana blockchain before the start of 2026.
This move reflects a broader strategy to place regulated stablecoins at the center of high-speed blockchain settlement, particularly for payments, digital commerce, and emerging AI-driven use cases.
By leveraging Solana’s low-cost, high-throughput infrastructure, StraitsX aims to make SGD- and USD-denominated transactions more efficient across decentralized finance, institutional flows, and everyday payments.
The expansion also positions the company to meet growing demand for programmable money in interoperable, software-native environments.
Solana integration plans
The rollout was announced in collaboration with the Solana Foundation and outlined in a blog post published Tuesday.
Once live, transactions will be settled directly via XSGD and XUSD on Solana, taking advantage of faster finality and lower fees.
StraitsX says the integration will consolidate multiple financial capabilities on a single blockchain, covering centralized exchange on-ramps, decentralized liquidity pools, lending markets, and consumer payments.
The company views Solana as a suitable base layer to support complex payment flows that require speed and scalability while maintaining reliability.
Demand from AI and trading
StraitsX states the expansion is designed to support increased usage from digital trading platforms and AI-native applications.
Solana has seen growing adoption of x402-based payments, an interoperability standard that enables automated transactions between software agents.
Both XSGD and XUSD already support the x402 standard natively, and that capability will extend to Solana.
As a result, developers and institutions will be able to deploy automated payment use cases, including on-chain currency conversion between SGD and USD, automated market maker liquidity provisioning, lending protocols, and institutional settlement workflows.
On-chain volume and token data
XSGD is already available across multiple blockchains, including Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRP Ledger.
XUSD is currently available on Ethereum and BNB Smart Chain.
XSGD has a market capitalization of $13 million with a circulating supply of 16.7 million tokens, while XUSD has a market capitalization of $52 million.
Combined, the two stablecoins have processed more than $18 billion in on-chain transaction volume, underscoring their expanding role in cross-chain payments and settlement activity.
Regulation and Grab partnership
StraitsX operates as a licensed major payment institution under the Monetary Authority of Singapore’s stablecoin framework.
Both XSGD and XUSD have been recognized by MAS as compatible with the forthcoming stablecoin regulatory framework, according to their white papers.
Separately, the company has moved to explore consumer-facing applications.
Last month Grab signed a collaboration agreement with StraitsX to investigate building a Web3-enabled settlement layer for Southeast Asia.
Subject to regulatory approval, the initiative would allow Grab users to hold and use XSGD and XUSD directly within the app, integrating digital wallets, programmable payments, and stablecoin clearing into everyday transactions.