According to @EauDoon, StraitsX has announced the launch of native SGD ($XSGD) and USD ($XUSD) stablecoins on the Solana blockchain. This integration is set to provide a high-performance environment for onchain foreign exchange (FX), liquidity, and real-time settlements, leveraging Solana's direct issuance capabilities, fast transaction finality, and low costs. This development also enables seamless SGD and USD pathways for protocols and platforms aiming to benefit from Solana's performance advantages.

According to Daniel Oon, StraitsX has achieved a remarkable 40x increase in card Gross Transaction Volume (GTV) and an 83x surge in card issuance over the past year. Through initiatives like Project BLOOM, StraitsX is enhancing cross-border payments across Southeast Asia, simplifying the process without requiring users to adopt new technologies. This strategic advancement positions StraitsX as a major player in facilitating seamless regional digital transactions.

According to @EauDoon, StraitsX achieved a remarkable 40X growth in gross merchandise value (GM), driven by the increasing adoption of stablecoin payments and a surge in the cryptocurrency card business in Southeast Asia. This highlights the expanding role of stablecoins in facilitating seamless transactions and broader crypto integration in the region.

According to @EauDoon, StraitsX has launched the StraitsX Card Issuance Programme, allowing fintech platforms to create Apple Pay-compatible cards. This initiative integrates Visa Token Service tokenization, wallet provisioning, and end-to-end certification. Platforms like RedotPay and Pionex are already live, with others set to join, showcasing the seamless adoption of advanced payment solutions.

According to @EauDoon, StraitsX is now supporting Pionex's scaling journey through the integration of Dedicated Virtual Accounts (DVA). This innovation simplifies automated reconciliation, eliminates pooled account complexities, and enables high-volume transfers with clear user attribution. Additionally, the $XUSD stablecoin settlement ensures a seamless 1:1 coordination between on-chain balances and USD banking rails, enhancing efficiency for users.

According to @ai_9684xtpa, Bybit has listed StraitsX’s USD-pegged stablecoin XUSD and is targeting fiat on- and off-ramp growth with deposit incentives. Source: https://x.com/Bybit_Official/status/1965719436091916532; Source: https://twitter.com/ai_9684xtpa/status/1965727725718761516 XUSD is issued by StraitsX and pegged 1:1 to the US dollar, while the issuer also offers Singapore dollar (XSGD) and Indonesian rupiah (XIDR) stablecoins. Source: https://straitsx.com StraitsX states it holds a Major Payment Institution license from the Monetary Authority of Singapore, supporting e-money issuance and cross-border services. Source: https://straitsx.com; Source: https://eservices.mas.gov.sg/fid The author notes XUSD had launched on Binance earlier, with current liquidity and volume mainly concentrated there. Source: https://twitter.com/ai_9684xtpa/status/1965727725718761516 Bybit is promoting a SWIFT bank transfer bonus where deposits of at least 1000 USD receive a 25 XUSD rebate, effectively offsetting fees for new entrants, per the author. Source: https://twitter.com/ai_9684xtpa/status/1965727725718761516 Bybit also launched a limited-time campaign allowing holders of MNT or XUSD to share a 60,000 XUSD prize pool, with rules outlined in its announcement. Source: https://announcements.bybit.com/zh-MY/article/hodl-mnt-or-xusd-and-win-stablecoins-blt835b8809494f09db/