Singapore Gulf Bank (SGB) said retail clients can now use its mobile banking app to convert between U.S. dollars and the stablecoins USDT and USDC in both directions, without first moving funds to a cryptocurrency exchange. The bank said customers are able to hold USDT, USDC and other fiat currencies within the same bank account. The conversion service is available 24 hours a day from Monday to Friday. SGB was launched by Singapore-based Whampoa Group. The update points to a banking-based access route for stablecoin conversion, handled inside the bank’s own app and account system rather than through an external exchange transfer.
Singapore Gulf Bank (SGB) said retail clients can now convert between U.S. dollars and the stablecoins USDT and USDC in both directions through its mobile banking app, without moving funds to a cryptocurrency exchange.
The bank said customers can hold USDT, USDC and other fiat currencies within the same bank account. The service supports 24-hour conversion from Monday to Friday.
SGB was launched by Singapore-based Whampoa Group.
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