Monetary Authority of Singapore-licensed stablecoin issuer StraitsX is setting its sights on Solana's high-speed blockchain, planning to launch its SGD and USD-backed tokens on the network by 2026. The strategic move positions the regulated issuer to tap into AI-driven transaction markets while expanding beyond its current Ethereum and XRP Ledger presence.
StraitsX, one of Singapore's first regulated stablecoin issuers, has announced plans to expand its XSGD and XUSD stablecoins to the Solana blockchain by 2026, marking a significant move for the Monetary Authority of Singapore (MAS)-licensed company.
The expansion represents a strategic pivot toward high-throughput blockchain infrastructure, with StraitsX specifically citing artificial intelligence-driven transactions as a key target market. Solana's ability to process thousands of transactions per second at minimal cost makes it an attractive platform for automated, AI-powered financial applications that require rapid settlement capabilities.
Currently, StraitsX operates its stablecoins on Ethereum and the XRP Ledger, serving institutional and retail clients across Southeast Asia. The XSGD stablecoin, backed 1:1 by Singapore dollars, has become a critical tool for businesses conducting cross-border payments and remittances in the region. Meanwhile, XUSD provides dollar-denominated digital currency access to markets where traditional banking infrastructure may be limited.
The 2026 timeline suggests a measured approach to the integration, likely allowing StraitsX to develop robust compliance frameworks and technical infrastructure suited to Solana's unique architecture. As a MAS-licensed entity, StraitsX operates under strict regulatory oversight, including reserve requirements and regular auditsโstandards that must be maintained across all blockchain deployments.
Solana's recent resurgence in developer activity and network stability, following challenges in 2022 and early 2023, has attracted renewed institutional interest. The network's focus on high-speed, low-cost transactions aligns with the demands of payment-focused applications and emerging AI use cases that require real-time blockchain interactions.
For the broader stablecoin ecosystem, StraitsX's expansion underscores a trend toward multi-chain strategies among regulated issuers. Rather than remaining exclusive to a single blockchain, licensed operators increasingly recognize the value of meeting users where they are, across diverse network ecosystems.
The move also highlights Singapore's continued leadership in digital asset regulation. As one of the few jurisdictions with clear stablecoin licensing frameworks, Singapore is positioning itself as a hub for compliant cryptocurrency innovation, with StraitsX serving as a prime example of how regulatory clarity can foster legitimate market expansion.
Market observers will watch closely to see whether other MAS-licensed issuers follow suit in embracing Solana's ecosystem.