Gate News message, April 17 — Singapore Gulf Bank (SGB) has launched a new stablecoin conversion service targeting corporate and high-net-worth clients, enabling instant fiat-to-stablecoin transactions at zero fees on the Solana network. The service supports multiple blockchains including Ethereum, Base, Arbitrum, and Avalanche, with a minimum transaction threshold of $100,000.
USDC is positioned as the primary stablecoin, with clients using USDC on Solana receiving zero-fee benefits and additional incentives. SGB CEO Shawn Chan stated the service improves treasury operations and payment flexibility for businesses operating across jurisdictions. Other stablecoins including USDT and USDe will be added later. The instant minting and redemption feature allows large-scale investors and companies to improve liquidity management.
The launch reflects growing institutional demand for faster and cheaper digital payment infrastructure. SGB processes over $2 billion in monthly fiat transactions, and the bank recently joined the correspondent network of Bank of New York, enabling smoother dollar clearing operations. Industry observers note the zero-fee structure on Solana could drive higher transaction volumes toward the network in the near term.
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
USDC Treasury Mints 250M USDC on Solana in 6 Hours
According to Whale Alert, USDC Treasury minted 250 million USDC on Solana 6 hours ago (May 10).
GateNews11h ago
ZEC hits a new high in the Solana bridging amount, reaching 86,643 coins; Zolana Bridge is the key catalyst
According to public on-chain data, on May 8, Zcash (ZEC) bridged supply on the Solana network reached 86,643 ZEC, setting a new all-time high; it was about seven months after Zolana Bridge officially went live on October 16, 2025. Zolana Bridge supports the circulation of ZEC on the Solana network in a form backed by real mainnet ZEC supply. Zolana Bridge Technical Architecture and Integration with the Zodl Wallet According to public information, Zolana Bridge adopts a combination of Near Intent
MarketWhisper05-09 04:03
Moscow Exchange launches Solana, Ripple, and Tron futures, limited to qualified investors
According to Bits.media on May 9, the Moscow Exchange (MOEX), Russia’s largest stock trading platform, announced that it will launch index futures trading for three digital assets—Solana (SOL), Ripple (XRP), and Tron (TRX)—on May 14. The contracts will be settled in Russian rubles and use cash settlement, involving no delivery of digital asset holdings, and will be available only to eligible investors. Three futures contract technical specifications According to an official MOEX announcement, al
MarketWhisper05-09 02:14
43.7% of Active RWA on Solana Deployed in DeFi Lending, vs 6.1% on Ethereum
According to Sentora, 43.7% of active real-world asset (RWA) market value on Solana is deployed in DeFi lending, compared to just 6.1% on Ethereum. The data highlights differing utilization patterns between the two chains, with Solana's RWA assets actively serving as collateral in credit
GateNews05-09 02:02
The U.S. Department of Defense has released 161 alien documents, and the Solana UFO meme coin surges
According to the U.S. Department of Defense’s official announcement on May 8, the government has officially launched the “PRESIDENTIAL Unidentified Aerial Phenomena Encounter Declassification and Reporting System” (PURSUE) and will release a total of 161 Unidentified Aerial Phenomena (UAP) documents from Version 01; subsequent versions are planned to be released on a rolling basis every few weeks. According to CoinGecko data, multiple UFO-themed Meme coins on the Solana chain have seen significant price increases.
MarketWhisper05-09 01:16
Moscow Exchange Launches SOL, XRP, and TRON Futures on May 14
According to Bits.media, Moscow Exchange will launch futures trading for Solana, Ripple, and Tron indices on May 14, available only to qualified investors. The contracts are settled in Russian rubles with no physical asset delivery. Contracts expire monthly on the last Friday, with June, July, and A
GateNews05-09 01:11
