> ## Content Index > Fetch the complete content index at: https://stablecoininsider.org/llms.txt > Use this file to discover other available public pages before exploring further. # Singapore Gulf Bank Launches Fee-Free USDC and USDT Minting on Solana - URL: https://stablecoininsider.org/gulf-bank-fee-free-usdc-and-usdt-minting/ - Published: 2025-12-12T08:35:24.000Z - Updated: 2025-12-12T08:35:24.000Z - Description: Singapore Gulf Bank launches fee-free USDC & USDT minting on Solana for retail & institutional users, slashing remittance costs and boosting DeFi adoption in 2025. - Author: Alexandra - Tags: Institutions, Gulf Bank, USDC, USDT, Fee-Free Stablecoin Minting, Solana, Stablecoins, Stablecoin News > **Singapore, December 12, 2025.** Singapore [**Gulf Bank (SGB)**](https://www.sgb.com/) has officially rolled out fee-free minting of Circle’s USDC and Tether’s USDT directly on the Solana blockchain, removing one of the last remaining cost barriers for retail and institutional clients entering crypto remittances and decentralized finance. The program, launched Thursday, allows verified SGB customers to convert fiat deposits into native Solana USDC or USDT instantly with zero bank-side fees, a first for a fully licensed Asian digital bank. [Stablecoin Newsletter](https://stablecoininsider.org/the-stablecoin-insider-weekly-newsletter/) ### **Key Takeaways** - Zero minting fees for both USDC and USDT on Solana (bank absorbs all costs) - Instant on-ramp designed for cross-border remittances and direct DeFi participation - Retail daily limit starts at SGD 10,000; institutions face no cap after enhanced due diligence - Fully regulated under MAS stablecoin framework with 1:1 redemption guaranteed - Targets 90%+ cost reduction versus traditional SWIFT and remittance providers [![Gulf Bank's Fee-Free USDC and USDT Minting on Solana](https://storage.ghost.io/c/73/6a/736af0e4-2274-4543-a329-2952b2b52abc/content/images/2025/12/image-162.png)](https://www.sgb.com/) ## **How the Fee-Free Program Works** Customers using the SGB mobile app or web portal can now deposit SGD, USD, or supported fiat currencies and select “***Mint USDC***” or “***Mint USDT*** on Solana.” The bank executes the conversion in real time through audited bridges and [**Circle’s CCTP**](https://www.circle.com/cross-chain-transfer-protocol), crediting tokens to the user’s Solana wallet without charging spread, processing, or minting fees. > Only Solana’s nominal network fees (**typically <$0.01**) apply. Redemption: burning stablecoins back to fiat, is equally **fee-free**. > ***Dr. Lina Chen***, Head of Digital Assets at SGB, told reporters: “We are subsidizing the on-ramp because the data is clear: every dollar of friction removed brings ten dollars of new volume. This is about mainstreaming [**stablecoins for payroll**](https://stablecoininsider.org/best-crypto-payroll-platform-rise/), remittances, and yield.” [![Gulf Bank's Fee-Free USDC Minting on Solana](https://storage.ghost.io/c/73/6a/736af0e4-2274-4543-a329-2952b2b52abc/content/images/2025/12/image-163.png)](https://www.circle.com/usdc) ## **Impact on Remittances and DeFi** Southeast Asia received roughly ***$80 billion*** in remittances last year, with average fees exceeding ***6%***. Early internal trials showed SGB’s Solana corridor cutting effective costs to under ***0.3%*** while settling in seconds. ***For DeFi, the move addresses a persistent pain point:*** high Ethereum gas and [**cross-chain bridging**](https://stablecoininsider.org/bridging-stablecoins/) fees that deter smaller players. > Solana currently hosts over ***$5 billion*** in stablecoin liquidity and processes ***65,000 transactions per second*** at sub-cent costs. Market observers expect the initiative to accelerate stablecoin inflows into Solana-based protocols including Jupiter, Kamino, and Drift. [Latest Stablecoin News](https://stablecoininsider.org/) ## **Regulatory Backing and Risk Controls** The service operates under [**Singapore’s Payment Services Act**](https://sso.agc.gov.sg/act/psa2019) and the MAS framework for single-currency stablecoins. > All minted tokens are backed 1:1, with USDC reserves independently attested monthly by Grant Thornton. SGB has implemented tiered limits, real-time transaction monitoring, and optional travel-rule compliance for transfers exceeding SGD 1,500. [![Gulf Bank's Fee-Free USDT Minting on Solana](https://storage.ghost.io/c/73/6a/736af0e4-2274-4543-a329-2952b2b52abc/content/images/2025/12/image-164.png)](https://tether.to/en/) ## **Conclusion** By making the fiat-to-stablecoin gateway effectively free, Singapore Gulf Bank is betting that lower friction will drive exponential adoption across retail corridors and institutional treasury desks alike. The launch further cements Singapore’s position as Asia’s most crypto-forward financial center and could pressure regional competitors to follow suit in 2026. [Work With Us](https://form.typeform.com/to/c5cdIHp0?typeform-source=www.stablecoininsider.com) **Read Next:** - [**The Neobank Transition Report**](https://stablecoininsider.org/the-neobank-disruption-report/) - [**USDT November 2025 Market Report**](https://stablecoininsider.org/usdt-november-2025-market-report/) - [**Where Stablecoins Are Being Spent (2025 New Report)**](https://stablecoininsider.org/stablecoin-spending-report/) --- ## **FAQs:** ### 1\. Is the minting really 100% free? Yes, SGB charges zero fees for minting or redemption. Only Solana network micro-fees may apply. ### 2\. Which stablecoins are supported? Native Solana USDC (Circle) and USDT (Tether). ### 3\. Who can participate? Any KYC-verified SGB account holder (retail or institutional). ### 4\. Are there daily limits? Retail: SGD 10,000 equivalent per day (higher tiers available). Institutions: unlimited after approval. ### 5\. How fast are remittances? End-to-end settlement typically under 10 seconds on supported corridors. ### 6\. Is this available outside Singapore? Currently limited to SGB customers; global rollout planned for Q2 2026. ### 7\. Can I immediately use the tokens in Solana DeFi? Yes, tokens land directly in your Solana wallet and are compatible with all major protocols.