StraitsX plans to bring its Singapore dollar and US dollar stablecoins to Monad in early 2027.
The company expects XSGD to become the network’s first natively issued Singapore dollar stablecoin.
Its launch alongside the US dollar-denominated XUSD remains subject to technical, regulatory and compliance requirements.
Monad is a Layer 1 blockchain compatible with the Ethereum Virtual Machine (EVM).
The integration would make both stablecoins available to developers, businesses and institutions on the network.
StraitsX also plans to explore cross-border payments, settlement and card programmes using the stablecoins.
Any such products or services would be subject to further assessment and applicable regulatory, compliance and partner requirements before rollout.
“Bringing XSGD to Monad as the network’s first SGD-denominated stablecoin gives us a way to put a Singapore dollar stablecoin to work in new card and payment products, without stepping outside the compliance standards we’ve built across the region.
This builds on the regulated infrastructure and regional payment rails we have developed across Asia,”
said Tianwei Liu, CEO and Co-Founder of StraitsX.
XSGD and XUSD are issued by StraitsX entities licensed as Major Payment Institutions under Singapore’s Payment Services Act 2019.
The Monetary Authority of Singapore has recognised both stablecoins as substantively compliant with its upcoming single-currency stablecoin regulatory framework.
StraitsX reported nearly US$70 billion in annualised stablecoin transaction volume across its infrastructure.
Keone Hon, General Manager of the Monad Foundation, said,
“Payments, card settlement and consumer financial products require infrastructure that can process transactions quickly and inexpensively at high volumes.
Monad is designed for such activity while remaining compatible with the broader EVM ecosystem, allowing StraitsX to connect with established wallets, liquidity infrastructure and financial applications across an open, interoperable ecosystem, rather than building around a proprietary environment.”
The planned deployment would also be subject to measures designed to mitigate evolving money laundering and terrorism financing risks.
Featured image: Edited by Fintech News Singapore, based on image by yogiermansyah22 via Magnific
