Gate News update: On March 31, stablecoin issuer StraitsX announced that its Singapore dollar stablecoin XSGD and its U.S. dollar stablecoin XUSD have officially gone live on the Solana network. These two stablecoins will be used for on-chain foreign exchange trading and high-performance settlement.

ChainCatcher message: According to Arkham data, at 21:07, 2 million XUSD (worth approximately 2 million USD) was transferred from StraitsX to an anonymous address (starting with 0x9B0B...). The transfer involved moving a large sum of digital assets, raising concerns about potential illicit activity or large-scale transactions.

ChainCatcher 消息，据 Arkham 数据，在 20:05，500 万 XUSD 从 Null Address 转入 StraitsX。

The crypto infrastructure company StraitX announced plans to launch Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the Solana blockchain in early 2026, facilitating instant exchange between the two currencies and promoting digital forex trading. This will be Solana's first Singapore dollar stablecoin and will enhance its role in the global payment network.

Cryptocurrency infrastructure company StraitX announced plans to launch Singapore dollar stablecoin XSGD and US dollar stablecoin XUSD on the Solana public blockchain, providing users with blockchain-based fast and low-cost currency exchange services. This marks the first time that a stablecoin asset linked to the Singapore dollar has been introduced into the Solana ecosystem. According to official disclosures, StraitX will collaborate with the Solana Foundation, and the launch of these two stablecoins is expected in early 2026. At that time, Solana users will be able to perform instant on-chain exchanges between Singapore dollar (SGD) and US dollar (USD), which can be seen as a decentralized, automated digital foreign exchange infrastructure.

ChainCatcher news, Sonic ecosystem lending protocol project Silo Labs has issued an update on the xUSD depegging event on the X platform. So far, the confirmed repayment amount has reached approximately 2.13 million USD, including about 88,169 USD on Sonic, approximately 556,669 USD on Avalanche, and around 1.49 million USD on Arbitrum. Previously, the price of Stream Finance stablecoin xUSD significantly deviated from its target range, affecting on-chain curated projects including Euler, Morpho, and Silo.

Re7 Labs has released an update regarding the xUSD depegging event, having engaged a law firm to investigate and recommend legal measures, including asset recovery. Despite multiple attempts to contact Stream Finance and Stables Labs without response, the lawyer has delivered a legal notice demanding repayment. Morpho Worldchain's sdeUSD position has been fully restored, and the treasury's risk exposure has dropped by over 50%.

PANews reported on November 18 that Southeast Asian ride-hailing giant Grab has signed a memorandum of cooperation with Singapore stablecoin platform StraitsX, planning to create a Web3 wallet and stablecoin settlement network for the Asian market. The two parties will promote the integration of the Web3 wallet into the Grab App, enabling GrabPay merchants to accept stablecoins such as XSGD and XUSD, and achieve cross-border, real-time, and compliant settlement. The system will introduce smart contracts and on-chain fund management, with all user assets managed by non-hosted wallets in compliance with regulatory requirements.

According to ChainCatcher news and Arkham data, at 22:59, 3 million XUSD (worth approximately 3 million USD) was transferred from Null Address to StraitsX (Xfers).

PANews November 9th reported that Re7 Labs released an impact report on xUSD de-pegging, with over $13 million in funds affected by Stable Labs. The report states: 1. Stream-xUSD: Stream's CEO has assured that the financial situation remains stable and unaffected by market events. Currently, Stream has partially repaid loan positions on Plasma and $7 million USDC in Re7 Labs' treasury on Worldchain; at the same time, to prevent further risk exposure, Re7 Labs has transferred all funds from the Earn treasury out of the xUSD market. Additionally, the upper limit of the xUSD market has been set to 0 and it has been removed from Euler Earn.