The SGB Net upgrade offers a number of benefits for institutional users, including real-time settlements between fiat and stablecoins.
The Singapore Gulf Bank (SGB) has launched the next version of SGB Net, a real-time clearing network that brings USD and stablecoins together.
The service will enable institutional clients to instantly mint, convert, and settle leading stablecoins, including USDC and USDT, on major blockchains such as Solana, Ethereum and Arbitrum. By doing so, the upgrade eliminates operational fragmentation and significantly simplifies payments.
Shawn Chan, Chief Executive Officer of SGB, said: “This upgrade to SGB Net positions SGB as the default bank for managing fiat and multiple stablecoins within a single, regulated infrastructure.”
The launch marks the latest milestone in SGB’s accelerated product roadmap, and the bank is also working with issuers, ecosystem partners and regulators to establish risk management frameworks.
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