Singapore Gulf Financial institution has launched a brand new stablecoin mint and redeem service for company and high-net-worth shoppers. The product permits customers to transform fiat currencies into stablecoins and again instantly from their financial institution accounts.
To assist adoption, the financial institution introduced a short lived waiver of gasoline and banking charges for operations on the Solana community. Purchasers can even obtain rewards based mostly on transaction quantity in the course of the promotional interval.
The service is built-in into SGB Internet, the financial institution’s inner clearing system. This enables funds to maneuver between blockchain networks and conventional accounts with out extra intermediaries.
At launch, the service helps USD Coin transactions ranging from 100,000 US {dollars}. The financial institution plans to develop the providing by including Tether, USDe, and World Greenback in future updates.
Picture: Freepik
