Monad is getting regulated Singapore and US dollar stablecoins

@StraitsX has announced plans to issue its Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD natively on the @monad blockchain, with a target launch window of early 2027.

Regulated from the ground up

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. The two coins are fully backed 1:1 by fiat reserves, with XSGD backed by Singapore dollars and XUSD backed by US dollars.

If launched as planned, XSGD would become the first Singapore dollar-denominated stablecoin to be issued natively on Monad.Monad is an Ethereum Virtual Machine-compatible layer-1 blockchain.The deployment is still subject to technical, regulatory, compliance, and partner requirements and has not yet gone live.

Payments and settlement in focus

StraitsX is also considering expanding the use of XSGD and XUSD to cross-border payments and settlement, as well as card programs.StraitsX reported nearly US$70 billion in annualised stablecoin transaction volume across its infrastructure.

Keone Hon, General Manager of the Monad Foundation, said the network is designed to process transactions quickly and inexpensively at high volumes, 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.

For Monad, the deal adds tangible payment utility. Monad currently holds about $692 million in stablecoins. Adding an SGD-denominated token would broaden the currencies available to developers and institutions building on the network, and could open a direct channel into Southeast Asian payment and settlement flows.

Sources:StraitsX Plans XSGD and XUSD Stablecoin Launch on Monad in 2027 - Fintech SingaporeStraitsX to launch SGD stablecoin on Monad blockchain - CFOtech AsiaStraitsX Secures MAS Licenses for Stablecoin Issuance, Crypto Payments - Fintech Singapore