Officially two major announcements in one day, and the discussion volume jumped to more than 7x—making it seem as if a cash pile of $70 billion is about to immediately rush into Monad accounts. But this money, at the earliest, won’t be seen until 2027.
On October 1, the Monad official blog posted two items: one is a plan from StraitsX to natively issue new yuan-backed stablecoins XSGD and XUSD on Monad; the other is a September ecosystem performance report—TVL exceeded $1 billion, DEX cumulative trading volume reached $33.1 billion, 4.3 million+ wallets, and 170+ applications. The numbers are real—the issue is the timeline.
StraitsX has historically handled nearly $70 billion in stablecoin transactions. This is their accumulated capital from the past few years, not new money that magically appeared in Monad’s balance. When XSGD and XUSD truly go live on-chain, the official themselves say it will be at the beginning of 2027—what’s on the table right now is only a cooperation memorandum.
At the Open event in Singapore on October 6, StraitsX, Visa, Tether, and Banking Circle will all be present. It sounds big, but as the meeting date approaches, the narrative is inevitably amplified. That doesn’t mean the product is already live and working.
The derivatives data, at least, is honest: open interest is $163.5 million, and within 24 hours long and short liquidations are basically balanced. Nobody is going all-in on one side—this is a real contest, not a one-sided carnival.
I think in the short term it’s likely range-bound. The real money hasn’t arrived yet; what people are trading now is essentially a check that can only be cashed in 2027. Chasing higher doesn’t make sense. If I were to change my mind, there’s only one signal: the day XSGD and XUSD genuinely start producing settlement volume on the Monad chain—not the day of handshake photos on October 6.
$MON #Monad #Stablecoin
On October 1, the Monad official blog posted two items: one is a plan from StraitsX to natively issue new yuan-backed stablecoins XSGD and XUSD on Monad; the other is a September ecosystem performance report—TVL exceeded $1 billion, DEX cumulative trading volume reached $33.1 billion, 4.3 million+ wallets, and 170+ applications. The numbers are real—the issue is the timeline.
StraitsX has historically handled nearly $70 billion in stablecoin transactions. This is their accumulated capital from the past few years, not new money that magically appeared in Monad’s balance. When XSGD and XUSD truly go live on-chain, the official themselves say it will be at the beginning of 2027—what’s on the table right now is only a cooperation memorandum.
At the Open event in Singapore on October 6, StraitsX, Visa, Tether, and Banking Circle will all be present. It sounds big, but as the meeting date approaches, the narrative is inevitably amplified. That doesn’t mean the product is already live and working.
The derivatives data, at least, is honest: open interest is $163.5 million, and within 24 hours long and short liquidations are basically balanced. Nobody is going all-in on one side—this is a real contest, not a one-sided carnival.
I think in the short term it’s likely range-bound. The real money hasn’t arrived yet; what people are trading now is essentially a check that can only be cashed in 2027. Chasing higher doesn’t make sense. If I were to change my mind, there’s only one signal: the day XSGD and XUSD genuinely start producing settlement volume on the Monad chain—not the day of handshake photos on October 6.
$MON #Monad #Stablecoin