Singapore Bay Bank launches stablecoin exchange for individual customers

Singapore Gulf Bank (SGB) announced that personal customers can conduct two-way exchanges between USD and USDT, USDC through the mobile banking app, without the need to transfer funds to a cryptocurrency exchange.

Customers can hold USDT, USDC, and other fiat currencies in the same bank account, and the service supports 24-hour exchanges from Monday to Friday. Singapore Gulf Bank was initiated by the Singapore Huangpu Group.