We’re proud to share our partnership with StraitsX, the stablecoin-native settlement layer powering global finance and a Major Payment Institution licensed by the Monetary Authority of Singapore. StraitsX issues XSGD, a Singapore dollar-denominated stablecoin, and XUSD, a US dollar-denominated stablecoin. Both are fully reserved and recognised by MAS to be substantively compliant with the upcoming Single-Currency Stablecoin regulatory framework.
StraitsX plans to issue XSGD and XUSD natively on Monad in early 2027, subject to applicable regulatory and compliance requirements. DFNS, which supports Monad through its Tier-1 integration, is providing technology infrastructure for the Monad pilot. DFNS acts strictly as a technology provider, while issuance, reserves and applicable regulatory responsibilities remain with StraitsX.
We cover our Monad integration in a companion post published today, Monad Support.
StraitsX, stablecoin payment infrastructure for Asia
StraitsX builds payment infrastructure that connects stablecoins with existing financial and payment networks, supporting how digital value moves between blockchain ecosystems and established financial infrastructure.
Its stablecoins, XSGD and XUSD, are fully reserved and recognised by MAS to be substantively compliant with the upcoming Single-Currency Stablecoin regulatory framework. They are issued by StraitsX entities licensed as Major Payment Institutions under Singapore’s Payment Services Act 2019.
Across its infrastructure, StraitsX has processed nearly US$70 billion in annualised stablecoin transaction volume.
XSGD and XUSD are available across multiple blockchain networks, connecting the stablecoins with a growing ecosystem of payment providers, exchanges and applications. Each additional network extends where these stablecoins can be used while maintaining StraitsX’s established controls around issuance and reserves.
Why Monad
On 1 October, StraitsX announced plans to bring XSGD and XUSD natively to Monad, not as bridged tokens but as assets issued directly on the network. XSGD is planned to become the first Singapore dollar-denominated stablecoin issued natively on Monad. The launch is targeted for early 2027 and remains subject to applicable technical, regulatory and compliance requirements.
Monad is designed for high-throughput blockchain activity, processing up to 10,000 transactions per second, finalizing them in 600 milliseconds and keeping fees at a fraction of a cent. Its compatibility with Ethereum also enables applications and infrastructure built for EVM networks to integrate with the ecosystem.
Native issuance of XSGD and XUSD could support the development of payment and settlement applications across Monad. StraitsX also intends to explore potential applications across areas such as cross-border payment and settlement flows and card programs that may use XSGD or XUSD as part of their underlying settlement infrastructure, subject to further assessment and applicable regulatory, compliance and partner requirements before rollout.
What DFNS brings
Issuing a stablecoin on a new network is not just a technical deployment. The issuer has to know who can mint and burn, under which approvals, within which limits, and with what evidence when its supervisor asks. DFNS provides wallet, tokenization and policy infrastructure for regulated issuers, with a full audit trail. Each issuer sets and runs its own controls on the platform.
With DFNS supporting Monad from today, StraitsX can prepare its Monad pilot on DFNS.
Looking ahead
Asia’s payment flows increasingly need a regulated payment infrastructure that can move value as efficiently as the networks around it. StraitsX is issuing stablecoins and building that settlement layer. Monad is providing a network built for that pace. DFNS is providing the infrastructure for the Monad pilot. We look forward to seeing XSGD and XUSD go live on Monad in early 2027, once the applicable regulatory and compliance requirements are met.
Get started
- Learn more about onchain core banking: dfns.co
- Explore the platform and documentation: docs.dfns.co
- Talk to our team: sales@dfns.co
