Gate News message, April 20 — Singapore Gulf Bank (SGB), a Bahrain-licensed digital bank backed by the Whampoa Group and Bahrain’s sovereign wealth fund Mumtalakat, has introduced USDC minting and redemption services on the Solana network for institutional clients. The service enables 24/7 settlement with a minimum transaction size of $100,000 and includes temporary fee waivers on both minting and redemption.
Transactions are processed through SGB’s internal clearing system rather than intermediary banking networks, reducing settlement delays and friction. SGB plans to expand stablecoin offerings to include Tether (USDT), Ethena USDe, and Global Dollar. The bank’s recent participation in BNY Mellon’s correspondent banking network indicates the infrastructure is being scaled to support a broader range of financial instruments.
The offering addresses a key challenge for institutional traders: inefficiencies in transferring large sums between traditional banking and crypto markets. Instant USDC conversion enables institutions to respond quickly to market opportunities, particularly for arbitrage strategies. The move reflects broader industry momentum toward stablecoin adoption. Mastercard has expanded its presence in the sector through acquisitions, while Visa participates in blockchain validation. European banking groups including ING, UniCredit, and BBVA are developing a euro-denominated stablecoin expected to launch in coming years. Pakistan has also eased restrictions, allowing banks to engage with licensed crypto firms.
The global stablecoin market has surpassed $320 billion in capitalization, with dollar-pegged tokens dominant. SGB’s initiative continues its expansion strategy since launching corporate services in late 2024, positioning the bank as a key intermediary integrating blockchain technologies with traditional finance.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Gerelateerde artikelen
Solana Foundation exec: Solana becoming 'onchain Nasdaq'
Nick Ducoff, head of institutional growth at Solana Foundation, stated in a recent TheStreet Roundtable discussion that Solana's vision of becoming the on-chain Nasdaq and home of internet capital markets is "getting closer and closer." Ducoff outlined four competing approaches to tokenized
CryptoFrontier8m geleden
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand1u geleden
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand1u geleden
Solana Holds $87 Support as ETF Inflows Top $22M
Key Insights
Solana ETF inflows reached $22.14 million this week, signaling sustained institutional accumulation and reinforcing short-term support above the 50-day EMA level.
Futures open interest climbed to $5.53 billion, highlighting increased retail participation and growing
CryptoNewsLand2u geleden
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 21
Gate News message, according to the April 21 update, Bitcoin ETFs recorded a 1-day net inflow of 3,599 BTC (approximately $272.59 million) and a 7-day net inflow of 18,914 BTC (approximately $1.43 billion). Ethereum ETFs showed a 1-day net inflow of 34,380 ETH (approximately $79.25 million) and a 7-
GateNews2u geleden
Arkham Launches Decentralized Trading for Solana Ecosystem Tokens
Abstract (English): Arkham has launched a decentralized trading feature for Solana ecosystem tokens, enabling high-frequency, low-latency trading directly on its platform. It filters tokens by volume, market cap, and liquidity, and tracks top traders, high‑PnL wallets, KOLs, and FnFs, while providing real-time activity, holdings history, and deployment records in one interface. Supported by Arkham’s analytics backbone of hundreds of thousands of traders, billions of address labels, and hundreds of millions of alerts.
Summary (English): Arkham launches a decentralized Solana trading feature with real-time data, token filters, and top-trader monitoring, powered by its large analytics platform.
GateNews5u geleden
