Singapore's DBS Bank announces the upgrade of its multi-currency real-time clearing network SGB Net, adding stablecoin settlement capabilities supporting USDC and USDT transactions. This move simplifies stablecoin management and is expected to open in 2026, with the bank handling $2 billion in fiat currency transactions per month.

On February 2, news came out that Singapore's Gulf Bank (SGB) announced the launch of a new regulated fiat-stablecoin interoperability service, allowing institutional clients to mint, exchange, hold, and trade stablecoins within a single compliant platform. This service will be deployed on its proprietary clearing network SGB Net, supporting the circulation of mainstream stablecoins such as USDT and USDC across multiple blockchain networks, and can be directly integrated with fiat settlement systems. SGB stated that the current stablecoin management process remains complex, and institutions face high friction costs in compliance, custody, and clearing. CEO Shawn Chan pointed out that the bank's goal is to provide a unified infrastructure for traditional finance and digital assets, enabling seamless movement of funds between on-chain and off-chain.

According to the Gate.io News bot, as reported by Wu, Singapore's Gulf Bank (SGB) has officially launched the real-time multi-currency clearing network SGB Net. As a fully licensed Digital Bank, SGB offers users 24/7 free transfer services through this platform, freeing them from the limitations of the SWIFT system and traditional banking hours. SGB Net is open to global participants in the digital economy, serving cryptocurrency exchanges, stablecoin issuers, market makers, over-the-counter trading platforms, and prime brokers.

Singapore Gulf Bank (SGB) has launched personal banking services, supported by Bahrain Mumtalakat and Singapore Huayu Group, and is the only regulated bank in the Middle East and North Africa region to offer remote digital account opening services. SGB provides comprehensive payment solutions, including traditional and digital asset investment channels, aimed at global digital economy participants. Currently, only invited users can apply.

gate News bot message, Singapore Gulf Bank ( Singapore Gulf Bank, SGB ) officially launches personal banking services. This service is specifically aimed at crypto assets native customers and clients interested in crypto assets, aiming to bridge the gap between digital finance and TradFi. SGB offers various payment methods such as wire transfer, bank card, and encryption channels, and supports multiple foreign exchange transactions to provide international payment services to customers. The bank is backed by the Bahrain Sovereign Wealth Fund Mumtalakat and the Singapore private investment group Hutchison Whampoa.

Singapore Digital Bank SGB has appointed Ali AlShamma and Elaine Leong as its Chief Financial Officer and Chief Operating Officer to strengthen its interaction between digital finance and TradFi. SGB will be launched in November 2024. SGB has received support from Bahrain's sovereign wealth fund Mumtalakat and Singaporean private investment firm Whampoa Group, and is the first fully licensed Digital Bank in Bahrain, aiming to promote financial interconnectedness in the Asia and Middle East North Africa regions.

Songbird (SGB) is a digital currency project based on the Flare network, serving as a testbed for the Flare mainnet. Its goal is to break down the barriers of blockchain through seamless cross-chain communication and interaction. The core features of Songbird include F-Assets, Spark (FLR) distribution, and governance under the PoS consensus mechanism. In the future, Songbird is expected to achieve greater impact by improving the utility of XRP and enhancing blockchain security. Despite significant price fluctuations, Songbird has unlimited potential and is worth continuous attention.