TechFlow News: On April 17, according to an official announcement, Singapore Gulf Bank (SGB) launched stablecoin minting and redemption services. Enterprises and high-net-worth individuals can now directly convert between fiat currency and stablecoins via their SGB accounts, enabling 24/7 instant settlement without relying on traditional correspondent banking processes. This service is integrated into SGB’s proprietary clearing network, SGB Net, supporting seamless on-chain and off-chain fund flows. USDC is the first stablecoin supported, with a minimum transaction amount of $100,000; support for USDT, USDe (Ethena), and Global Dollar (USDG) will be added progressively.
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