Gate News message, April 17 — Singapore Gulf Bank (SGB) launched a stablecoin minting and redemption service on April 17, targeting corporate and high-net-worth clients. The service enables seamless conversion between fiat dollars and USD stablecoins including Circle’s USDC, Tether’s USDT, Etherena’s USDe, USDG, and others. The bank, which processes over $2 billion in fiat transactions monthly, set a minimum transaction threshold of $100,000.
The service is currently available on Ethereum, Solana, Base, Arbitrum, and Avalanche networks. Notably, SGB designated Solana as entirely fee-free for customers, citing the network’s speed and cost-efficiency. USDC transactions are already live, with other stablecoins expected to follow. Customers trading USDC above $100,000 on Solana will receive zero network and bank fees, plus additional rewards calculated based on transaction volume during the promotion period. SGB CEO Shawn Chan stated the service enables “real-time movement between fiat and digital assets, improving cash flow, payments, and treasury management” for a “borderless world.”
The announcement is expected to boost activity on the Solana network and USDC adoption. According to the press release, approximately $8.12 billion in USDC is currently circulating on Solana, while the broader stablecoin market stands at $321 billion across all networks. SGB recently joined the correspondent banking network of Bank of New York to consolidate its U.S. dollar clearing capabilities.
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.
Related Articles
AAVE Now Live on Solana Network, Available on Phantom and Jupiter
Gate News message, April 27 — AAVE is now live on the Solana network, with support for trading the DeFi governance token on platforms including Phantom and Jupiter.
Aave is a non-custodial liquidity
GateNews18m ago
SOL Whale Unstakes 300,000 SOL Worth $26.07M, Transfers to Major CEX
Gate News message, April 27 — An on-chain analyst monitoring SOL staking activity detected a major whale unstaking 300,000 SOL (approximately $26.07 million) over the past 30 minutes and transferring the tokens to a major CEX.
The unstaking was tracked by analyst Yujin, who identified the
GateNews31m ago
Aave Proposes 25,000 ETH to DeFi United for Kelp DAO Exploit Relief
Aave service providers put forth a governance proposal on Friday that would contribute 25,000 ETH worth nearly $58 million from the protocol's DAO to DeFi United, a "coordinated relief effort" to restore backing for rsETH following the Kelp DAO exploit. The proposed contribution would go toward clos
CryptoFrontier6h ago
Solana Eyes $87 Breakout as Bullish Signals Strengthen
Solana sits near key resistance around $87 as on-chain activity and positive funding buoy bullish momentum; whale-led demand in derivatives supports a potential breakout. RSI >50 and positive MACD indicate rising upside, with a path toward $92–$97 and support near $77.
CryptoNewsLand6h ago
Solana Price Holds Range as $90 Resistance Caps Breakout
Key Insightsthe price
Solana trades between $85 and $86 after a pullback, while an ascending channel pattern supports bullish structure with strong demand near support levels.
Momentum indicators, including MACD and Aroon, suggest strengthening buying pressure, reinforcing expectations of a
CryptoNewsLand9h ago
Solana Spot ETF Sees $1.17M Net Outflow as FSOL Records Inflows
Gate News message, April 26 — Solana spot ETFs recorded net outflows of $1.1736 million yesterday (April 24), according to SoSoValue data. The total assets under management for SOL spot ETFs reached $883 million as of reporting time, with a net asset ratio of 1.77% and cumulative net inflows of $1.0
GateNews15h ago
