Singapore's United Overseas Bank launches stablecoin minting and redemption services, supporting instant cross-border settlements for businesses.

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Mars Finance News: Singapore’s Gulf Bank (SGB) announced the launch of stablecoin minting and redemption services, allowing corporate and high-net-worth clients to directly convert between fiat currency and stablecoins through their SGB accounts. This enables 24/7 real-time settlement without relying on traditional correspondent banking processes. The service is integrated into SGB’s proprietary clearing network, SGB Net, supporting seamless on-chain and off-chain fund flows. The initial support includes USD Coin (USDC), with a minimum transaction amount of $100k. Subsequent support will include USDT, USDe (Ethena), and Global Dollar (USDG).

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