Singapore-based Xweave announced at the Point Zero Forum in Zurich that it has integrated Solana into its non-custodial payments platform to handle real-time treasury settlement across the Asia-Pacific region. The move targets a specific institutional problem: corporate treasuries managing multiple currencies and jurisdictions currently need to pre-fund accounts and wait one to three days for traditional wire transfers to clear.
Traditional correspondent banking networks create friction that locks up capital. Xweave claims settlement on Solana achieves finality in less than a second while significantly lowering transaction costs. The platform now supports transactions in U.S. dollars, Singapore dollars, Philippine pesos, Indonesian rupiah and UAE dirhams across Singapore, Indonesia and the Philippines, with expansion planned to the UAE, Japan and Hong Kong.
How it works
Xweave functions as middleware between regulated financial institutions, FX providers and stablecoin settlement networks. It does not hold or transmit client funds directly. The use cases include intraday liquidity sweeps between subsidiaries, delivery-versus-payment FX settlement, supply-chain disbursements and automated routing to cheaper payment channels.
Milind Sanghavi, co-founder and CEO, framed the combination of Solana's infrastructure and Xweave's compliance orchestration as a way to make real-time cross-border treasury commercially viable for institutions managing multi-currency positions that have historically required substantial pre-funding and operational overhead.
Stablecoins' institutional foothold
The announcement reflects growing institutional interest in stablecoins as faster settlement alternatives to legacy systems. Asia remains one of the world's most complex treasury environments, with corporates managing multiple currencies, fragmented regulatory frameworks and varying banking infrastructure quality.
Xweave is backed by investors including Temasek-backed Menyala, Jungle Ventures, Digital Currency Group, White Star Capital, Fabric Ventures and LuLu Money. The company is also participating in BLOOM, a public-private initiative led by Singapore's Monetary Authority aimed at advancing next-generation cross-border settlement infrastructure. The regulatory alignment suggests institutional and supervisory interest in stablecoin-based settlement as a practical infrastructure layer, though regulatory approval pathways for full adoption across multiple jurisdictions remain under development.