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StraitsX plans to issue its Singapore dollar stablecoin XSGD and its US dollar stablecoin XUSD natively on Monad in early 2027, the company announced on October 1. XSGD will be the first SGD-denominated stablecoin issued natively on the network, and the launch remains subject to technical, regulatory and compliance requirements.
StraitsX is targeting cross-border payment and settlement flows, card programmes that may use XSGD or XUSD as settlement infrastructure, and payment applications built across Monad's ecosystem. The announcement does not name any card partners.
XSGD is set to become the first SGD-denominated stablecoin natively issued on Monad in early 2027.
— StraitsX (@StraitsX) October 1, 2026
We’re collaborating with @monad to bring $XSGD and $XUSD natively to their high-performance EVM network.
This integration expands on-chain currency options while opening up… pic.twitter.com/xhjwZ6ASry
"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," said Tianwei Liu, co-founder and CEO of StraitsX.
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," and that Monad is "designed for such activity while remaining compatible with the broader EVM ecosystem." Monad, a high-throughput EVM-compatible layer 1, launched its mainnet in November 2025.
Both tokens are issued by StraitsX entities licensed as Major Payment Institutions under Singapore's Payment Services Act. The Monetary Authority of Singapore has recognised them as substantively compliant with its single-currency stablecoin framework.
StraitsX says it has processed nearly US$70 billion in annualised stablecoin transaction volume across its infrastructure. Circulating supply is far smaller. XSGD has about 16.5 million tokens outstanding, worth roughly US$12.9 million, according to CoinGecko, spread across chains including Ethereum, Solana, Polygon, Avalanche, Arbitrum, Base, Hedera and Zilliqa. The gap suggests the tokens are mostly minted and redeemed quickly for settlement flows, with relatively little XSGD held in wallets or DeFi pools at any one time.
The card and payment products StraitsX describes have yet to be named. The test for the Monad launch will be whether those integrations arrive alongside the token in 2027 and bring sustained SGD settlement volume onto the network.
