Introduction to SGB’s Innovative Solution
Singapore Gulf Bank (SGB) has unveiled an innovative solution that allows institutions to create, trade, and seamlessly convert stablecoins into fiat currency through a single regulated platform. In an announcement reported by crypto.news, this service will empower SGB clients to mint and manage stablecoins such as USDC and USDT while utilizing prominent blockchain networks including Solana, Ethereum, and Arbitrum on the SGB Net platform.
CEO’s Vision and Service Details
Shawn Chan, the CEO of SGB, emphasized this initiative’s significance, stating,
“Our ambition is to become the one bank for all of finance,”
while acknowledging the current complexities involved in stablecoin management.
Launched earlier this year, SGB Net is a unique real-time, multi-currency clearing network designed specifically for digital asset businesses. The bank noted that it handles an impressive monthly fiat transaction volume exceeding $2 billion. The new service will include robust compliance measures, ensuring adherence to Know Your Customer (KYC), Know Your Business (KYB), and anti-money laundering (AML) regulations.
Partnerships and Future Plans
To facilitate fund custody, SGB has collaborated with Fireblocks, a leading crypto infrastructure provider, a partnership that was established in November to enhance treasury operations and reduce operational risks.
The bank anticipates rolling out this service by the first quarter of 2026, currently engaging with ecosystem partners and regulators to ensure proper implementation of necessary safeguards. The growing trend in the market indicates a rising demand for regulated access to stablecoins, particularly those pegged to the dollar, which serve as essential tools for digital liquidity and international transactions.
Related Developments in the Stablecoin Market
In a related development, USDT issuer Tether recently introduced USA₮, a federally regulated stablecoin compliant with the GENIUS Act. In the UAE, Universal Digital Intl Limited has followed suit by launching USDU, the nation’s inaugural central bank-approved stablecoin, which is entirely backed by U.S. dollars.
