Singapore Gulf Bank (SGB) has launched a USDC minting and redemption service on the Solana blockchain, targeting institutional clients with real-time settlement capabilities. The service, operational since April 2026, allows for instant conversion between fiat and digital assets, addressing cross-border payment delays by eliminating intermediaries. Transactions over $100,000 qualify for immediate processing, enhancing liquidity and treasury management for global businesses. To encourage adoption, SGB has waived gas and banking fees temporarily for minting and redeeming USDC on Solana. The bank plans to expand the service to include other stablecoins like USDT, USDe, and USDG, and aims to extend access to retail users by mid-2026. This initiative follows SGB's integration into BNY's correspondent banking network, bolstering its U.S. dollar clearing capabilities and linking traditional banking with digital asset systems.
Singapore Gulf Bank Launches USDC Minting on Solana for Institutions
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