StraitsX Launches XSGD and XUSD Stablecoins on Solana
According to SolanaFloor, the rollout allows users to move Singapore dollars and U.S. dollars on Solana’s blockchain network without relying on banks or traditional foreign-exchange brokers.
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Terms & Concepts
Stablecoin: A cryptocurrency designed to maintain a stable value by being linked to a reference asset such as a fiat currency.
Solana: A blockchain network designed for fast transactions and decentralized applications.
On-chain: Activity that takes place directly on a blockchain, where transactions are recorded on the public ledger.