StraitsX has partnered with the Solana Foundation to launch the XUSD and XSGD stablecoins pegged on the U.S. dollar and Singapore dollar, respectively, on the Solana network. The initial rollout is scheduled for the beginning of next year, marking an expansion of the company’s multichain and cross-border settlement use cases.
StraitsX stated that the integration will enable the easy settlement of XSGD and XUSD on Solana, taking advantage of the network’s fast and cheap infrastructure for real-time global payments and digital commerce.
The company relies on Solana’s increasing use of x402-based payment standards. The interoperability standard enables automated machine-to-machine and AI agent micropayments.
Meanwhile, the launch of both stablecoins positions them to support future demand from the expanding agentic economy and AI-native applications. XUSD is already live on Ethereum and BNB Smart Chain, while XSGD is available on Zilliqa, XRPL, Polygon, Hedera, Ethereum, Arbitrum, and Avalanche.
Launching XUSD and XSGD combines CEX support with AMM liquidity
Tianwei Liu, the co-founder and CEO of StraitsX, said launching both XSGD and XUSD on Solana unites CEX support with AMM liquidity, lending pools, and everyday payments on a single chain. It also brings the world closer to moving digital money across networks just as easily as moving information across different platforms today.
Meanwhile, Lu Yin, the head of APAC at The Solana Foundation, agreed that stablecoins are becoming one of the most essential building blocks for real-world on-chain activities. He added that launching both stablecoins on Solana expands the network’s role as a leading global payments chain.
The partnership also creates new opportunities for institutions, builders, and users by launching both tokens on the Solana blockchain. The opportunities include lending and borrowing, yield-generating DeFi applications, and instant cross-border settlements. The addition of native USD and SGD liquidity further strengthens Solana’s role as a layer for machine-driven and AI-driven onchain transactions.
XUSD and XSGD both support the x402 standard natively, placing them among the first-ever stablecoins built for automated agent-to-agent payments. The capability will be carried on to Solana to accelerate the adoption of both stablecoins across emerging AI-driven use cases.
U.S. dollar and Singapore dollar ecosystems get bridged on same chain
The initiative is expected to deeply bridge the U.S. dollar and Singapore dollar ecosystems for the first time on the same chain, creating a unified foundation for onchain FX between XUSD and XSGD. It will also create a unified foundation for automated market maker (AMM) liquidity, institutional-grade payment flows, and lending markets.
The two stablecoins have processed over $18 billion in on-chain transaction volume, highlighting strong adoption among builders, users, and institutional players.
Major CEXs (centralized exchanges) are reportedly lining up to support the Solana native XSGD and XUSD stablecoins. StraitsX is also working with DEXs (decentralized exchanges), Solana’s largest DeFi protocols, and AMM ecosystems to establish stablecoin lending markets and liquidity pools.
StraitsX anticipates that these efforts will strengthen the foundation for a comprehensive, full-stack settlement and payment network on the Solana blockchain. Its collaboration with the Solana Foundation also aims to drive deep liquidity for both stablecoins, ensuring efficient and strong participation within the Solana ecosystem.
The collaboration accounts for the continuously evolving nature of terrorism-financing and money-laundering landscapes. The partners will also ensure that risks arising from the integration are effectively addressed to protect users.
Meanwhile, StraitsX recently secured $10 million from UQPAY to drive the expansion of stablecoins across Asia. The company is partnering with leading financial institutions, global liquidity providers, and payment technology partners like UQPAY to deliver regulated solutions.
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Source: https://www.cryptopolitan.com/straitsx-to-launch-usd-singapore-stablecoins/
