Overview
- StraitsX announced plans to deploy its SGD- and USD-pegged stablecoins on Solana, targeting near-instant SGD–USD swaps and real-time on-chain FX settlement.
- Both XSGD and XUSD will support Solana’s x402 standard to enable machine-to-machine transactions and AI-agent micropayments.
- Solana is set to become the first Layer 1 hosting both XSGD and XUSD, with XSGD delivering the network’s first Singapore-dollar stablecoin.
- The rollout includes coordinated liquidity with centralized exchanges, decentralized exchanges, and automated market makers to support efficient conversion at scale.
- StraitsX reports more than $18 billion in cumulative on-chain volume for the two tokens and lists CoinGecko market caps of about $13 million for XSGD and $50 million for XUSD.