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Bank of Singapore launches stablecoin minting and redemption services, supporting real-time cross-border settlements for businesses

MeNews
ME News Report, April 17 (UTC+8), Singapore's DBS Bank (SGB) announced the launch of stablecoin minting and redemption services, allowing corporate and high-net-worth clients to directly convert between fiat and stablecoins through their SGB accounts, enabling 24/7 real-time settlement without relying on traditional correspondent banking processes. This service is integrated into SGB's proprietary clearing network, SGB Net, supporting seamless on-chain and off-chain fund flows. The initial support includes USD Coin (USDC), with a minimum transaction amount of $100k, and subsequent support will include USDT, USDe (Ethena), and Global Dollar (USDG). (Source: ChainCatcher)
USDE-0.04%
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TheCandlestickChartLooksLikeAn
· 6h ago
Seamless flow between on-chain and off-chain, this statement says nothing but is indeed sophisticated.
View OriginalReply0
GateUser-83a2dd8a
· 8h ago
Singapore banks are tightening up, and Hong Kong is feeling the pressure.
View OriginalReply0
OneMoreReorg
· 10h ago
SGB Net sounds like some kind of underground financial network from a science fiction movie.
View OriginalReply0
GateUser-7e77b8d8
· 10h ago
USDC first, USDT and USDe are in line; this priority is quite interesting.
View OriginalReply0
There'sABullMarketInTheGlass.
· 10h ago
Exclusive for high-net-worth clients, ordinary people should just look.
View OriginalReply0
EbbShellLedger
· 10h ago
24/7 real-time settlement, agent banks can start updating their resumes.
View OriginalReply0
MoonlightReef
· 10h ago
Traditional banks have finally gotten the message; the “100,000 (in ‘dao’)” threshold discourages retail investors, but institutions are ecstatic
View OriginalReply0

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