On October 1, 2026, StraitsX announced plans to issue its Singapore dollar stablecoin XSGD and its US dollar stablecoin XUSD natively on the Monad network in early 2027. The initiative would make XSGD the first Singapore dollar-denominated stablecoin issued natively on Monad, a high-performance EVM-compatible Layer 1 blockchain. It is intended to expand the stablecoin options available to developers, businesses, and institutions across the Monad ecosystem.
Planned Deployment and Native Issuance
The planned integration would bring XSGD and XUSD onto Monad as native assets, rather than bridged tokens. StraitsX expects this move to support new payment products, settlement flows, and card programs that require fast and inexpensive transaction processing. The company stressed that the launch remains subject to applicable technical, regulatory, and compliance requirements.
Regulatory and Compliance Foundation
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 recognized both stablecoins as substantively compliant with the city-state's upcoming single-currency stablecoin regulatory framework. StraitsX said the planned Monad deployment would also account for evolving money-laundering and terrorism financing typologies through appropriate risk mitigation measures.
Leadership Perspectives
Tianwei Liu, CEO and Co-Founder of StraitsX, said the initiative allows a Singapore dollar stablecoin to support new card and payment products without departing from the compliance standards built across the region. He stated that the effort builds on the regulated infrastructure and regional payment rails StraitsX has developed across Asia. Liu framed the Monad expansion as an extension of the company's compliance-first operating model.
Target Use Cases for Payments and Cards
StraitsX intends to explore how XSGD and XUSD could support future payment and settlement applications across the Monad ecosystem. Potential areas include cross-border payment and settlement flows as well as card programs that may use either stablecoin as part of their underlying settlement infrastructure. The company noted that any such products or services would require further assessment and approval from relevant regulatory, compliance, and partner stakeholders before rollout.
Monad Performance and Ecosystem Compatibility
Monad is designed to process high volumes of transactions quickly and at low cost while remaining compatible with the broader Ethereum Virtual Machine ecosystem. Keone Hon, General Manager of the Monad Foundation, said these characteristics are critical for payments, card settlement, and consumer financial products. He added that compatibility allows StraitsX to connect with established wallets, liquidity infrastructure, and financial applications across an open and interoperable environment.
Transaction Volume and Market Position
StraitsX has processed nearly US$70 billion in annualized stablecoin transaction volume across its infrastructure, according to the company. Third-party data indicates that circulating supply is smaller, with XSGD having about 16.5 million tokens outstanding worth roughly US$12.9 million, as reported by CoinGecko. This gap suggests that the tokens are mostly minted and redeemed quickly for settlement flows, with relatively little XSGD held in wallets or decentralized finance pools at any one time.
Anticipated Timeline and Conditions
StraitsX is targeting early 2027 for the native issuance of XSGD and XUSD on Monad. The timeline is subject to technical readiness, applicable regulatory approvals, and compliance requirements that may evolve before the launch. The company has not disclosed specific card partners or product integrations that would accompany the token deployment.
The planned Monad integration highlights StraitsX's effort to combine regulated stablecoin infrastructure with a high-throughput blockchain network. If the launch proceeds as scheduled, it could introduce new Singapore dollar and US dollar settlement options to developers and payment providers. The real test will be whether card programs, payment applications, and sustained settlement volume arrive alongside the tokens in 2027.