Singapore Gulf Bank enables 24/7 USDC minting on Solana
Singapore Gulf Bank lets institutional clients mint and redeem Circle USDC 24/7 on Solana for transactions above $100,000, linking token flows to its internal clearing system.
Singapore Gulf Bank announced a service that lets institutional clients mint and redeem Circle USDC on the Solana layer-1 blockchain around the clock. The facility supports transactions above $100,000 and routes token flows directly into the bank’s internal clearing system. Minting and redemption fees on the Solana network will be waived for a limited period.
SGB built the capability into its clearing infrastructure so clients can move funds between on-chain tokens and traditional bank balances without routing through intermediary banking networks. The bank said the feature enables settlement outside normal banking hours.
The service will initially support Circle USDC. SGB expects to add Tether’s USDT, Ethena’s USDe and Global Dollar at a later date. Each transaction must meet the $100,000 minimum to use the minting and redemption facility.
Industry participants have been integrating stablecoin settlement with traditional finance. Mastercard agreed to acquire stablecoin infrastructure provider BVNK in a transaction valued at up to $1.8 billion. Jorn Lambert, Mastercard’s chief product officer, commented: “Most financial institutions and fintechs are moving toward services built around stablecoins and tokenized deposits.” Visa has begun operating validator nodes on the Tempo network and is focused on the technical and strategic aspects of running validators.
Regulatory and banking developments have also advanced. Pakistan’s central bank has allowed commercial banks to provide services to licensed crypto firms and the country signed an exploratory agreement to assess a USD1 stablecoin for cross-border payments. In Europe, a group of banks including ING, UniCredit and BBVA is developing a euro-pegged stablecoin planned for distribution through exchanges and banking channels in the second half of 2026.
Data shows the total market capitalization of stablecoins exceeds $320 billion.
SGB said it will monitor client demand and expand supported assets and functionality over time.
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