StraitsX Set to Launch Native SGD Stablecoin on Monad Blockchain

StraitsX, a Singapore-based digital-asset payments infrastructure firm, is planning to launch its first native Singapore dollar stablecoin on the Monad blockchain in early 2027. The company also plans to issue a U.S. dollar-denominated stablecoin, XUSD, on the same network.

The stablecoins will be issued by an affiliate of StraitsX that holds a Major Payment Institution license under Singapore's Payment Services Act. This means that transactions processed through StraitsX infrastructure have already totaled about $30 billion to date.

StraitsX CEO Liu Tianwei said the introduction of XSGD as Monad's first Singapore dollar stablecoin will allow them to maintain compliance standards while enabling its use in new card and payments products.