Singapore Gulf Bank Launches Stablecoin Minting and Redemption Service for Cross-Border Settlement

Gate News message, April 17 — Singapore Gulf Bank (SGB) announced the launch of stablecoin minting and redemption services on April 17, enabling enterprises and high-net-worth clients to convert directly between fiat and stablecoins through their SGB accounts. The service offers 24/7 instant settlement without relying on traditional correspondent banking processes.

The offering is integrated into SGB's proprietary clearing network, SGB Net, which facilitates seamless on-chain and off-chain fund flows. Initially supporting USD Coin (USDC) with a minimum transaction amount of $100,000, the service will gradually add support for USDT, USDe (Ethena), and Global Dollar (USDG).