🇸🇬 Singapore Gulf Bank is introducing a stablecoin minting and redemption service, facilitating direct 1:1 USD to USDC conversion on the Solana platform.

USDC-0,03%
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LimeMulti-Signature
· 3h ago
This wave is quite beneficial for the Solana ecosystem.
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LateEntryLarry
· 4h ago
I hope the transaction fees aren't too outrageous, or else users will still go to the exchanges.
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SushiLatency
· 4h ago
Regulation here in Singapore is relatively clear, and banks entering the space to do mint/redeem is quite convincing.
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BeGentleWithLeverage
· 4h ago
With KYC in place, it probably leans more toward institutions and large-scale users; retail investors may not perceive it strongly, but it boosts trust in stablecoins.
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GateUser-3e7da866
· 4h ago
USDC will have more use cases on Solana, and the capital efficiency of DeFi may reach a new level.
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MorningGoldAsWavesCrashAgainst
· 4h ago
The most concerned is the redemption speed: T+0 or T+1? If it can be instant, that would be great.
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GateUser-f92ba9fa
· 4h ago
Don't end up with a "targeted service" that is only available to a select few clients; it would be better if it could be more inclusive.
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PermissionedFury
· 4h ago
On-chain direct exchange is much more convenient than cross-chain arbitrage. Looking forward to more local banks getting involved.
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0xLateAgain
· 4h ago
Banks are pushing forward with stablecoin channels, indicating that traditional finance is also accepting on-chain settlement systems.
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Low-PolyEarth
· 4h ago
1:1 direct swap for USDC, the key is whether liquidation and compliance can withstand the pressure.
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