Singapore Dollar Stablecoin Volume Surpasses $1b On Polygon Network

$xSGD Clears $1.1B on Polygon

@StraitsX's Singapore dollar stablecoin, $xSGD, has crossed $1.1 billion in cumulative on-chain volume on the @0xPolygon network, according to real-time data cited by the project. The milestone marks a notable step for non-USD stablecoins, which have historically struggled to gain traction against dollar-denominated alternatives in on-chain markets.

$xSGD dominates the market with over 70% share of non-USD stablecoins across Southeast Asian exchanges combined , making the Polygon volume figure a meaningful signal of deepening regional liquidity rather than a one-off spike. The data points to rising velocity in stablecoin pairs outside the traditional USD corridor, particularly within trade finance flows across the Asia-Pacific region.

StraitsX's Broader Ambitions in Southeast Asian Digital Finance

StraitsX operates as the stablecoin-native settlement layer driving global finance and holds a Major Payment Institution licence from the Monetary Authority of Singapore. As the issuer of XUSD and $xSGD, the company leverages blockchain technology to drive payments interoperability while offering tools for liquidity management and cross-border transactions.

$xSGD is already live on Ethereum, Polygon, Avalanche, Arbitrum, Zilliqa, Hedera, and XRPL , underscoring a deliberate multi-chain strategy designed to capture institutional and retail flows across multiple settlement rails. Together, $xSGD and its US dollar counterpart XUSD have processed over $18 billion in on-chain transaction volume, reflecting strong adoption among users, developers, and institutional partners.

The $1.1 billion Polygon milestone arrives as @StraitsX expands aggressively across the region. An expanded payment network slated for go-live in Q2 2026 aims to establish a unified payment corridor linking Southeast Asia and Northeast Asia, allowing users in Japan and Taiwan to make payments across participating merchant networks in Southeast Asia, with all cross-border transactions settled in $xSGD behind the scenes.

The momentum behind $xSGD reflects a broader shift in how regional stablecoins are being deployed. Rather than serving purely as crypto trading instruments, regulated stablecoins like $xSGD are playing an increasingly important role in institutional settlement, trade finance, and digital payments across Asia-Pacific economies. With the second half of 2026 approaching, @StraitsX appears well-positioned to consolidate its standing as the leading issuer for Southeast Asian digital asset flows.

Sources
StraitsX: XSGD and XUSD Solana Expansion (StraitsX Official Blog)
StraitsX: Extending Payment Network Across Asia (StraitsX Official Blog)
CoinDesk: StraitsX to Debut Singapore and US Dollar Stablecoins on Solana