StraitsX Plans to Launch XSGD and XUSD Stablecoins on Monad in 2027

Techub News reports that Singapore-based stablecoin issuer StraitsX has announced plans to launch the Singapore dollar stablecoin XSGD and the US dollar stablecoin XUSD on the Layer1 blockchain Monad in 2027. The company stated that XSGD will be the first Singapore dollar stablecoin issued directly on Monad. StraitsX, a subsidiary of Singapore fintech company Xfers, has obtained a Major Payment Institution license from the Monetary Authority of Singapore. This collaboration aims to leverage Monad's high-performance features to provide stablecoin settlement solutions for Web3 applications. (Tech in Asia)