StraitsX Plans XSGD, XUSD Stablecoin Launch on Monad Blockchain in 2027
Singapore-based stablecoin issuer StraitsX announced plans to launch its XSGD and XUSD tokens natively on the Monad blockchain in early 2027. The company has received recognition from Singapore's central bank.
Singapore-based stablecoin issuer StraitsX has announced plans to introduce its XSGD (Singapore dollar-denominated) and XUSD (US dollar-denominated) tokens natively on the Monad blockchain, an Ethereum Virtual Machine-compatible Layer 1 blockchain, in early 2027.
StraitsX stated that XSGD will be the first Singapore dollar-denominated stablecoin issued directly on Monad. The company holds a Major Payment Institution license in Singapore, and its tokens are already live on Solana.
The Monetary Authority of Singapore (MAS) has recognized XSGD and XUSD as substantively compliant with the upcoming single-currency stablecoin framework. However, public materials did not show this as a formal MAS designation.
The planned rollout on Monad remains subject to technical, regulatory, and compliance requirements. StraitsX is continuing to work with regulators to ensure a smooth implementation.