StraitsX has announced the launch of its Singapore dollar stablecoin XSGD on the Monad blockchain in early 2027, subject to technical, regulatory and compliance requirements. As reported by StraitsX, this makes XSGD the first Singapore dollar-denominated stablecoin issued natively on the Monad network. The Singapore-based payments firm expects to launch both XSGD and XUSD on Monad, with XSGD becoming the network's first Singapore dollar-denominated stablecoin. Monad, an Ethereum Virtual Machine-compatible Layer 1 blockchain, will extend StraitsX's reach beyond its existing infrastructure into a newer blockchain ecosystem with a growing base of applications and financial services.
Monad [MON] has successfully broken out above the ₹0.027 resistance level, which previously acted as a barrier to upward momentum. According to reports from AMBCrypto, buyers attempted to breach this level twice before, but each attempt was unsuccessful. However, in the third attempt, they managed to breach it and defend the level during the recent end-of-September pullback. The token accelerated higher to ₹0.03398 while increasing volume, indicating increased buyer participation in the breakout. The price has since retraced to ₹0.032257 at press time, bringing it close to the short-term exhaustion zone at ₹0.032758, which represents the latest local high.
The planned integration will make both stablecoins available to developers, businesses and institutions on the Monad network, with any products or services subject to further assessment and applicable regulatory requirements. As reported by StraitsX, the company aims to use the planned launch on Monad to support payment and settlement use cases, including card-related products and cross-border transaction flows. StraitsX identified faster payments and card settlement in Singapore dollars as key goals for the integration. The planned issuance would expand the currencies available to developers, businesses and institutions on the Monad network, providing tangible purposes for deploying assets beyond liquidity expansion.
The stablecoin launch benefits from strong regulatory backing, with XSGD and XUSD 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, providing a solid foundation for the Monad integration. According to Tianwei Liu, CEO and Co-Founder of StraitsX, "By introducing XSGD as Monad's first Singapore dollar stablecoin, we can use it for new card and payments products while maintaining the compliance standards we have built across Asia."
Beyond the planned native issuance of XSGD and XUSD, StraitsX intends to explore how the stablecoins could support future payment and settlement applications across the Monad ecosystem. Potential areas include cross-border payment and settlement flows and card programs that may use XSGD or XUSD as part of their underlying settlement infrastructure. As reported by StraitsX, Keone Hon, General Manager of Monad Foundation, emphasized that "Payments, card settlement and consumer financial products need infrastructure that can process large transaction volumes quickly and cheaply." Monad's EVM-compatible Layer 1 blockchain design allows StraitsX to connect with established wallets, liquidity infrastructure and financial applications across an open, interoperable ecosystem, rather than building around a proprietary environment.
