Singapore Gulf Bank (SGB) launched a new stablecoin coin and exchange service in April 2026, allowing institutional customers to convert fiat money to digital dollars and back again in real time.
The measure is intended to make cross-border payments faster and more efficient, especially for companies operating in multiple countries.
Gulf Bank of Singapore $USDC Coin and exchange service on Solana
According to the official announcement on the launch date, Singapore Gulf Bank has launched a stablecoin coin and exchange service that allows users to convert US dollars into $USDC in a ratio of 1:1.
The service works 24/7, allowing users to transfer money from traditional banking systems instantly and without delay.
For now, it’s available to business and high-net-worth customers, allowing them to transfer money faster and more easily. The bank also plans to open this service to private users by the end of the second quarter.
Singapore Gulf Bank @sgb_app has launched a stablecoin coin and exchange service, enabling 1:1 USD–$USDC conversion on Solana with 24/7 settlement and fee waivers for a limited time. The service is currently targeting institutional clients and plans to open to private individuals by the end of the month.
— Wu Blockchain (@WuBlockchain) April 17, 2026
Faster payments and real-time banking
The biggest change here is speed. Traditional banking systems often take hours or even days to process international transfers. This new system allows SGB customers to move funds directly between fiat and stablecoins without having to rely on multiple intermediaries.
A major highlight of this launch is the zero-rate offering. For a limited time, the bank is eliminating both gas fees and banking fees for minting and exchanging stablecoins.
This is especially useful for companies operating in regions such as Asia and the Gulf, where cross-border payments are frequent and expensive.
Moreover, customers also get rewards based on how much they trade during this period.
Why was Solana chosen?
SGB chose Solana because of its high speed and low transaction costs. The network can process transactions within seconds, which fits well with the bank’s goal of real-time settlement.
By combining blockchain with its internal system, SGB Net, the bank bridges the gap between traditional finance and digital assets. This allows funds to move smoothly between on-chain and off-chain environments.
Focus on institutional adoption
At launch, the service is primarily aimed at corporate and high-net-worth customers, with a minimum transaction size of approximately $100,000.
The aim is to improve treasury management, liquidity and global payment transactions for large companies. However, the bank plans to expand access for individual users in the future as demand grows.
SGB has already processed more than $7 billion in transactions, demonstrating strong demand for faster and more efficient financial instruments.
The next step will be expansion. More stablecoins such as USDT and other digital dollars are expected to be added soon. If adoption continues, these types of services could replace slow bank rails with faster, always-on systems.