Singapore Gulf Bank launches zero-fee stablecoin minting on Solana, enabling USDC and USDT conversion.
Singapore Gulf Bank launches zero-fee stablecoin minting on Solana, enabling USDC and USDT conversion.
Singapore Gulf Bank has processed more than $7 billion and has shown strong interest in corporate demand globally.
Singapore Gulf Bank has launched a service that allows customers to directly convert fiat currencies to stablecoins such as USDC and USDT on the Solana blockchain, without transaction fees or gas fees for now.
The move, announced at Solana Breakpoint 2025 in Abu Dhabi, highlights institutions' growing confidence in stablecoins in day-to-day financial operations.
Singapore Gulf Bank begins minting stablecoins with zero fees
Singapore Gulf Bank (SGB), which is regulated by the Central Bank of Bahrain and supported by Whampoa Group and Mamtalakat Sovereign Fund, said the new measures will help bridge traditional banking and blockchain technology to real-world financial applications.
The first phase of this service is designed for corporate customers, specifically financial management and cross-border business payments, before expanding into personal banking services.
Clients with SGB verified accounts can now deposit fiat currencies such as USD or SGD and instantly receive USDC or USDT in Solana.
JUST IN: Singapore Gulf Bank begins minting and redeeming stablecoins on Solana. pic.twitter.com/z7gWouIVIa
— Whale Insider (@WhaleInsider) December 13, 2025
This approach eliminates the delays of traditional banking as clients can directly interact with blockchain payments without relying on multiple intermediaries.
Why Solana was chosen to mint stablecoins
SGB chose Solana because it is fast, low-cost, and suitable for high-volume, real-time financial flows. With Solana, the bank aims to reduce these costs to less than 0.3% and make cross-border remittances easier for businesses in Asia and the GCC region by enabling payments in seconds.
Since entering the market, Singapore Gulf Bank has already processed more than $7 billion in transactions.
This demand reflects growing interest from businesses seeking a seamless link between digital assets and traditional banking, the bank said.
Security, compliance and future scalability
To enhance security, SGB has partnered with Fireblocks to provide institutional-grade digital asset storage. This setup uses advanced encryption and secure wallet infrastructure to protect client funds while meeting regulatory standards.
With zero-fee stablecoin minting, secure storage, and instant payment tools, Singapore Gulf Bank positions itself as a bridge between traditional and decentralized finance.
The move reflects broader changes as banks adapt to a 24/7 global market and demand for faster, cheaper financial services increases.
