Singapore Gulf Bank unveils 24/7 stablecoin minting

Singapore Gulf Bank launches 24/7 stablecoin minting for corporate clients, offering instant fiat-stablecoin conversion on Solana with zero fees. More stablecoins and retail access are coming soon.

Singapore Gulf Bank has introduced a 24/7 stablecoin minting and redemption service for corporate and high-net-worth clients. This new offering enables direct conversion between fiat currency and stablecoins like USDC, with future support for USDT, USDe, and USDG. Transactions are settled instantly on the Solana blockchain for amounts above $100,000. To promote adoption, the bank is temporarily waiving gas and banking fees for minting and redeeming USDC. Clients can also earn rewards based on their transaction volume. The service is fully integrated into the bank’s proprietary clearing network, allowing seamless transfers between on-chain and off-chain funds within a regulated framework. This initiative aims to streamline treasury operations, cross-border payments, and liquidity management, reducing reliance on traditional correspondent banking. Plans for retail access and multi-chain support are set for later this year, positioning the bank as a bridge between digital and traditional finance.