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
XRP Goes Live on Solana as Official Wrapped Token
Ripple's XRP launched on Solana as a wrapped cross-chain asset on April 17, partnering with Hex Trust and others. This move, aimed at boosting liquidity and expanding access to Solana's DEX ecosystem, highlights Solana's growing role in cross-chain tokenization.
GateNews2h ago
Singapore Gulf Bank Launches Stablecoin Minting Service, Offering Zero Fees on Solana
Singapore Gulf Bank launched a stablecoin minting and redemption service for corporate clients, allowing conversions between fiat and USD stablecoins with no fees on Solana for transactions over $100,000. This aims to enhance cash flow and boost USDC adoption.
GateNews5h ago
Bitcoin ETFs See Daily Outflow While Ethereum and Solana ETFs Post Gains on April 17
Gate News message, according to the April 17 update, Bitcoin ETFs recorded a 1-day net outflow of 142 BTC ($10.98M) and a 7-day net inflow of 7,093 BTC ($550.09M). Ethereum ETFs showed a 1-day net inflow of 22,357 ETH ($54.55M) and a 7-day net inflow of 89,684 ETH ($218.83M). Solana ETFs posted a 1-
GateNews6h ago
Solana Targets $120 if Bulls Hold $87 Support; Technical Setup Shows Cup-and-Handle Pattern
Solana (SOL) is trading at $88.87, with a daily gain of 3.84%. Analysts indicate that maintaining support above $87 is crucial to potentially reach $120. Liquidation clusters influence price action, and a breakout above $107 could confirm upward momentum.
GateNews7h ago
DoubleZero Edge Boosts Solana Data Speed With Fiber Optic Network
DoubleZero has introduced DoubleZero Edge, a high-performance data transmission platform designed to deliver real-time blockchain information for the Solana ecosystem, with beta access announced on April 16, 2026. The service moves data delivery away from the public internet onto a dedicated fiber o
CryptoFrontier15h ago
Trader Turns $960 into $337K in Under 2 Hours, Achieving 351x Return on SOL and ASTEROID Trade
A trader turned 11 SOL into $337,000 in under two hours by using three wallets to buy 158.51 million ASTEROID tokens and later selling most for 1,539 SOL, while retaining 23.76 million tokens worth about $202,000.
GateNews16h ago
