Singapore Gulf Bank offers fee-free USDC mint/redeem on Solana with 24/7 in-bank settlement

Singapore Gulf Bank (SGB) launched a stablecoin mint-and-redeem service on April 17 that enables in-bank settlement of USDC on the Solana blockchain, allowing corporate and high-net-worth clients to convert directly between fiat and stablecoins from within their SGB accounts ^{[1] [2]}.

At launch the bank said the service offers zero-fee stablecoin creation and continuous, round-the-clock international settlement, positioning the platform as a bridge between traditional currency and digital-asset transactions ^{[3] [2]}.

Industry coverage notes the offering is aimed at corporate and high-net-worth clients and points out that SGB already processes over $2 billion in fiat transactions; outlets also say Circle’s USDC and the Solana network are likely to benefit from the new mint/redeem capability ^{[4] [1]}.