Singapore Gulf Bank has introduced a new stablecoin mint and redeem service designed for institutional investors and high-net-worth clients, allowing them to convert traditional fiat currencies into digital assets with instant 24/7 settlement.
The service is integrated into the bank’s proprietary SGB Net clearing infrastructure, giving clients a faster way to move funds between conventional banking systems and blockchain networks.
The platform initially supports USD Coin for transactions above $100,000, with plans to expand support to Tether, USDe, and Global Dollar in the coming months.
To encourage early adoption, the bank announced that it will temporarily waive blockchain gas fees and banking charges for transactions processed on the Solana network.
This move reduces transaction costs for clients while highlighting the bank’s commitment to making digital asset services more accessible for professional investors.
According to CEO Shawn Chan, the growing demand for faster cross-border capital movement has made stablecoin infrastructure increasingly important for global businesses.
He stated that embedding stablecoin conversion directly into the banking environment can improve cash flow, treasury operations, and international payment efficiency.
The launch comes shortly after the bank strengthened its traditional financial infrastructure through a partnership with BNY, enhancing its U.S. dollar clearing capabilities.
By combining regulated banking services with blockchain technology, Singapore Gulf Bank is positioning itself as a financial bridge between conventional banking and the rapidly expanding digital asset economy.
This latest development reflects a broader shift in the banking sector, where regulated institutions are increasingly adopting blockchain-based financial tools to meet the needs of a more connected global market.
