Crypto
StraitsX Launches SGD Stablecoin on Monad Blockchain
StraitsX, a Singapore-based payments firm, is planning to launch its SGD and USD stablecoins on the Monad blockchain in early 2027. The move will make XSGD the first SGD-denominated stablecoin issued natively on the network.
The company expects to extend its reach beyond its existing infrastructure into a newer blockchain ecosystem with a growing base of applications and financial services.
Monad, an Ethereum-compatible Layer 1 blockchain focused on financial applications, will benefit from adding a Singapore dollar stablecoin to expand the currencies available to developers, businesses, and institutions on the network.