Singapore Gulf Financial institution launches zero-fee stablecoin minting on Solana, enabling USDC and USDT conversion.
Singapore Gulf Financial institution launches zero-fee stablecoin minting on Solana, enabling USDC and USDT conversion.
Singapore Gulf Financial institution has processed greater than $7 billion and has proven sturdy curiosity in company demand globally.
Singapore Gulf Financial institution has launched a service that enables prospects to immediately convert fiat currencies to stablecoins resembling USDC and USDT on the Solana blockchain, with out transaction charges or fuel charges for now.
The transfer, introduced at Solana Breakpoint 2025 in Abu Dhabi, highlights establishments’ rising confidence in stablecoins in day-to-day monetary operations.
Singapore Gulf Financial institution begins minting stablecoins with zero charges
Singapore Gulf Financial institution (SGB), which is regulated by the Central Financial institution of Bahrain and supported by Whampoa Group and Mamtalakat Sovereign Fund, stated the brand new measures will assist bridge conventional banking and blockchain expertise to real-world monetary functions.
The primary section of this service is designed for company prospects, particularly monetary administration and cross-border enterprise funds, earlier than increasing into private banking companies.
Shoppers with SGB verified accounts can now deposit fiat currencies resembling USD or SGD and immediately obtain USDC or USDT in Solana.
JUST IN: Singapore Gulf Financial institution begins minting and redeeming stablecoins on Solana. pic.twitter.com/z7gWouIVIa
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This method eliminates the delays of conventional banking as purchasers can immediately work together with blockchain funds with out counting on a number of intermediaries.
Why Solana was chosen to mint stablecoins
SGB selected Solana as a result of it’s quick, low-cost, and appropriate for high-volume, real-time monetary flows. With Solana, the financial institution goals to scale back these prices to lower than 0.3% and make cross-border remittances simpler for companies in Asia and the GCC area by enabling funds in seconds.
Since coming into the market, Singapore Gulf Financial institution has already processed greater than $7 billion in transactions.
This demand displays rising curiosity from companies in search of a seamless hyperlink between digital property and conventional banking, the financial institution stated.
Safety, compliance, and future scalability
To reinforce safety, SGB has partnered with Fireblocks to offer institutional-grade digital asset storage. This setup makes use of superior encryption and safe pockets infrastructure to guard shopper funds whereas assembly regulatory requirements.
With zero-fee stablecoin minting, safe storage, and instantaneous cost instruments, Singapore Gulf Financial institution positions itself as a bridge between conventional and decentralized finance.
The transfer displays broader modifications as banks adapt to a 24/7 international market and demand for quicker, cheaper monetary companies will increase.
