Singapore Gulf Bank (SGB) has announced a new service that will let institutions mint, trade, and convert stablecoins to fiat all within a single regulated platform.
The service, expected to launch in Q1 2026, will allow clients to work with popular stablecoins like USDC and USDT across major blockchain networks, including Solana, Ethereum, and Arbitrum, all through SGB Net, the bank’s proprietary real-time, multi-currency clearing network. Currently, SGB Net handles over $2 billion in monthly fiat transactions.
“Our goal is to become the one bank for all of finance,” said CEO Shawn Chan, noting that stablecoin management is often unnecessarily complex.
The platform will include built-in safeguards to ensure full compliance with KYC, KYB, and AML regulations. Custody and security will be handled in partnership with crypto infrastructure provider Fireblocks, a collaboration that began last November to help automate treasury operations and reduce risks.
SGB is coordinating with partners and regulators to implement proper guardrails and expects to give clients access by early 2026.
The move comes as demand for regulated access to dollar-backed stablecoins continues to grow, with stablecoins playing an increasingly important role in digital liquidity and global settlements. Recently, Tether launched USA₮, a federally regulated U.S. stablecoin, and in the UAE, Universal Digital Intl Limited introduced USDU, the country’s first central bank–approved, dollar-backed stablecoin.
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