Singapore Gulf Bank Shakes Up Finance: Zero-Fee Stablecoin Minting Now Live on Solana

Forget waiting for traditional finance to catch up. A major Asian bank just cut out the middleman and went straight to the blockchain.

Why Your Banker Might Be Sweating

Singapore Gulf Bank isn't just dipping a toe in the crypto waters—it's building a launchpad. By offering zero-fee stablecoin minting on Solana, the institution bypasses legacy payment rails entirely. It's a direct challenge to the fee-heavy corridors of correspondent banking. Think of it as opening a 24/7, global, digital branch where creating dollar-pegged assets costs nothing.

The Solana Speed Play

The network choice is strategic. Solana's architecture handles the high throughput and low costs that traditional stablecoin transactions demand. This isn't an experiment on a sidechain; it's a core banking service deployed on a leading Layer-1. The move validates the network's capacity for serious financial infrastructure, not just speculative trading.

A New Blueprint for Banks

This launch signals a pivot. Banks are no longer just custodians or passive observers—they're becoming issuers and direct participants in the digital asset economy. It provides a clear template: use efficient public blockchains to offer superior, cheaper financial products. The race to tokenize real-world assets just found its pace car.

The old guard's moat is looking more like a puddle. While they debate internal blockchain consortia, forward-thinking institutions are capturing market share on open networks. It turns out the biggest threat to a banker's bonus isn't the crypto anarchist—it's the banker next door who actually read the whitepaper.

Singapore Gulf Bank has launched a service that allows clients to convert fiat money into stablecoins like USDC and USDT directly on the solana blockchain with no transaction or gas fees for now. 

Announced at Solana Breakpoint 2025 in Abu Dhabi, the move highlights rising institutional confidence in stablecoins for everyday financial operations.

Singapore Gulf Bank Launches Zero-Fee Stablecoin Minting

Singapore Gulf Bank (SGB), regulated by the Central Bank of Bahrain and backed by Whampoa Group and the Mumtalakat sovereign wealth fund, said this new step helps bridge traditional banking and blockchain technology for real-world financial use.

This first phase of the service is designed for corporate clients, especially for treasury management and cross-border business payments, before it expands to personal banking services.

Clients who have verified accounts with SGB can now deposit fiat currencies, such as USD or SGD, and instantly receive USDC or USDT on Solana.

JUST IN: Singapore Gulf Bank launches stablecoin minting and redemption on Solana. pic.twitter.com/z7gWouIVIa

This approach removes traditional banking delays by allowing clients to interact with blockchain settlement directly, without relying on multiple intermediaries. 

Why Solana Was Chosen for Stablecoin Minting

SGB chose Solana for its fast speed and low costs, making it suitable for high-volume, real-time financial flows. Using Solana, the bank aims to cut those costs to under 0.3% and settle in seconds, making cross-border transfers easier for businesses across Asia and the GCC region..

Since entering the market, Singapore Gulf Bank has already processed more than $7 billion in transactions. 

The bank says this demand shows growing interest from enterprises looking for seamless links between digital assets and traditional banking.

Security, Compliance, and Future Expansion

To strengthen security, SGB has partnered with Fireblocks to provide institutional-grade digital asset custody. This setup uses advanced cryptography and secure wallet infrastructure to protect client funds while meeting regulatory standards.

With zero-fee stablecoin minting, secure custody, and instant settlement tools, Singapore Gulf Bank is positioning itself as a bridge between traditional finance and decentralized finance. 

The MOVE reflects a broader shift as banks adapt to 24/7 global markets and rising demand for faster, cheaper financial services.