Singapore Gulf Bank (SGB) launches direct mint and redeem stablecoin services on the Solana blockchain

At the Solana Breakpoint 2025 event held in Abu Dhabi, Singapore Gulf Bank (SGB) officially announced a new on-chain financial service that allows customers to mint and redeem stablecoins directly on the Solana blockchain. As a fully regulated and licensed digital bank, SGB sees this as a significant step in connecting traditional banking systems with next-generation blockchain technology.

This service enables institutional and qualified customers to seamlessly convert fiat currency to stablecoins and vice versa, within a framework that ensures compliance and high security. The direct integration with the Solana network—famous for its high speed and low costs—helps SGB improve payment speeds, optimize liquidity management, and increase transparency compared to traditional systems.

This move reflects SGB's long-term strategy to promote blockchain applications in real-world finance, while also affirming the growing role of Solana in the institutional finance sector.