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

MeNews
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ME News message: On April 17 (UTC+8), Singapore’s Sea Bank (SGB) announced the launch of stablecoin minting and redemption services. Corporate and high-net-worth clients can convert directly between fiat and stablecoins via their SGB accounts, enabling around-the-clock instant settlement without relying on traditional correspondent banking processes. The service is integrated into SGB’s proprietary clearing network, SGB Net, supporting seamless fund flow between on-chain and off-chain. The initial support includes USD Coin (USDC), with a minimum transaction amount of $100,000, and subsequent support will add USDT, USDe (Ethena), and Global Dollar (USDG). (Source: ChainCatcher)
USDE-0.02%
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DrinkWaterBeforeTheMarket
· 4h ago
Traditional agent banks: So love will disappear, right?
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GateUser-26374bb4
· 5h ago
Gulf Bank steps in, the Asian US dollar stablecoin market is getting more and more lively
View OriginalReply0
HedgeHedgeBaby
· 5h ago
A minimum of $100k, the threshold for Web3 is always so real.
View OriginalReply0

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