Xweave Deploys Solana for Stablecoin Treasury Settlement Across Asia Pacific

Singapore-based payments infrastructure company Xweave announced at the Point Zero Forum in Zurich on June 25 that it has deployed Solana SOL$119.95+2.3% as the settlement layer for its stablecoin-powered cross-border treasury platform, which is live in Singapore, Indonesia, and the Philippines.

The platform is designed for corporate treasury teams and banks moving capital across borders. Xweave is non-custodial: it does not hold or transmit client funds, which removes the need for a payment institution license and lets it operate as orchestration infrastructure rather than a regulated money mover.

Co-founder and CEO Milind Sanghavi said Solana provides sub-second finality, programmable execution, and near-zero transaction cost, while Xweave handles compliant orchestration on top.

Anna Zhang, APAC Growth Lead at the Solana Foundation, was present at the announcement. "Solana's enterprise-ready infrastructure makes programmable settlement practical for corporate treasury teams operating across Asia Pacific," she said.

What Xweave Actually Does for Treasury Teams

The product targets a specific operational pain point: APAC corporate treasurers managing multi-currency cash positions across jurisdictions have historically needed to pre-fund accounts in each market to cover settlement lag. Xweave routes those flows over Solana stablecoin rails, replacing multi-day correspondent banking chains with atomic settlement at sub-second finality.

Use cases the company highlights include intraday liquidity sweeps between subsidiaries, delivery-versus-payment foreign exchange settlement, supply-chain and trade finance disbursements, and automated routing to the lowest-cost available payment channel.

The platform supports USDC-denominated settlement flows across five currencies: US dollars, Singapore dollars, Philippine pesos, Indonesian rupiah, and UAE dirhams. More currency pairs and corridors are described as in development.

Xweave participates in BLOOM, a public-private payments initiative run by the Monetary Authority of Singapore. Its investor base includes Temasek-backed Menyala, Jungle Ventures, Digital Currency Group, White Star Capital, and Fabric Ventures. Gulf-based digital remittance provider LuLu Money is also listed among backers.

Expansion Beyond Southeast Asia

The current live markets (Singapore, Indonesia, the Philippines) cover the densest institutional payment corridors in Southeast Asia. Xweave plans to expand into the UAE, Japan, and Hong Kong, extending reach to the Gulf and to two of Asia's largest financial centers.

The UAE expansion is notable given that Xweave's platform already supports AED-denominated flows, suggesting the corridor infrastructure is partly in place before market entry.

A Wider APAC Wave for Solana Payments

The Xweave announcement lands during a concentrated period of institutional payments activity on Solana across Asia. Toss Bank, South Korea's third-largest internet bank with 15 million customers, signed an MOU with the Solana Foundation on June 19 to run a stablecoin remittance proof of concept. KG Inicis, South Korea's largest payment gateway with more than 400 million annual transactions, signed a similar Solana Foundation MOU three days later.

Credible Finance separately opened a China cross-border payment corridor on Solana stablecoin rails in partnership with NASDAQ-listed OwlTing Group last week. That deal covers enterprise clients moving money across Chinese payment corridors, with India routes in planning.

The Xweave deployment differs from the Korean MOU deals in one material respect: it is live production infrastructure rather than a proof of concept. Settlement in Singapore, Indonesia, and the Philippines is already operating on Solana, not scheduled for a pilot.

The accumulation of production and pilot-stage deployments suggests that the Solana Foundation's APAC engagement (including its participation in the BLOOM initiative and Anna Zhang's presence at today's announcement) is translating into live commercial infrastructure, not just memoranda.