Singapore Gulf Bank

Stablecoins expanded into new markets and corridors, with Transfero launching a BRZ bridge, Xelio enabling Nigerian text/WhatsApp transfers, and Singapore Gulf Bank offering zero-fee USD-to-USDC conversion. Solana surpassed Ethereum in adjusted USD stablecoin volume, while P2P transfers reached $971M weekly. Ramp added Solana Tether support, and MetaMask cards now offer Solana USDC.

Solana dominates onchain trading with 41% Q1 market share, secures major upgrades and partnerships, including Singapore Gulf Bank's USDC settlement and Y Combinator's USDC funding. Tether supports Drift's $150M recovery plan, while new infrastructure initiatives like STRIDE and DoubleZero's high-speed data expand Solana's ecosystem.

Singapore Gulf Bank, a Bahrain-based lender, has introduced stablecoin mint and redeem services for institutional clients, enabling direct conversion of fiat currency to US dollar-pegged stablecoins for 24/7 settlement.

Singapore Gulf Bank has launched a USDC mint on the Solana blockchain as the network's total value locked exceeds $1 trillion. This move highlights growing institutional adoption of Solana for stablecoin issuance and DeFi activities.

Singapore Gulf Bank (SGB) now offers 1:1 USD to USDC conversion on Solana without gas, banking, or mint fees. The service supports multiple blockchains including Ethereum, Solana, Base, Arbitrum, and Avalanche, enabling businesses to pay in crypto directly from their SGB accounts.