StraitX is planning to launch a new yuan-backed stablecoin on Solana in early 2026.

By: theblockbeats.news|2025/12/16 16:46:11

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BlockBeats News, December 16, Cryptocurrency infrastructure company StraitX announced that it plans to launch the Singapore Dollar stablecoin XSGD and the US Dollar stablecoin XUSD on the Solana blockchain in early 2026 and collaborate with the Solana Foundation to promote it. At that time, users will be able to achieve instant on-chain exchange between SGD and USD on Solana, equivalent to "on-chain forex trading."

This marks the first introduction of the Singapore Dollar (SGD) stablecoin to the Solana network. Currently, Solana has hosted approximately $15.7 billion worth of fiat-pegged stablecoins such as the US Dollar and Australian Dollar, but SGD was not supported before.

StraitX stated that XSGD and XUSD will operate on Solana's high-speed, low-cost environment, serving scenarios such as AI automated payments, DeFi applications, cross-border settlements, and everyday transactions, while being compatible with centralized exchanges, AMM liquidity pools, and lending protocols.

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