StraitsX plans to bring XSGD and XUSD to Monad

StraitsX plans to bring two stablecoins to Monad: XSGD, denominated in Singapore dollars, and XUSD, denominated in US dollars. XSGD could become the first Singapore dollar-denominated stablecoin natively issued on the network, subject to applicable technical, regulatory and compliance requirements. The company is also exploring Monad as a settlement network for an embedded-finance stack. This would allow fintechs, payment companies and consumer apps to offer payments and cards within their own products while relying on StraitsX for regulated infrastructure. XSGD and XUSD are issued by StraitsX entities licensed as Major Payment Institutions in Singapore. The company says its infrastructure has processed nearly $70 billion in cumulative stablecoin transaction volume.