Tether USDt

Singapore Gulf Bank is seeking to raise $50 million in funding as it plans to acquire a stablecoin payments company. The bank, backed by Whampoa Group, which received its Bahrain license in February, is<a href="https://www.bnnbloomberg.ca/business/2024/11/25/singapore-gulf-bank-to-raise-funds-buy-stablecoin-payments-firm/" rel="noopener noreferrer nofollow"> reportedly</a> in discussions with a Middle East sovereign wealth fund and other investors to sell less than a 10% equity stake by early 2025.The funding will primarily support product development, payment network enhancement, and talent acquisition, according to sources familiar with the matter. Singapore Gulf Bank&#39;s platform currently enables companies to manage both traditional and digital assets in a single interface, with plans to extend these services to individual customers by year-end.The bank&#39;s backing from sovereign wealth fund Bahrain Mumtalakat Holding Co. and Whampoa Group underscores growing institutional confidence in digital asset services. The fundraising coincides with growing optimism in the digital asset sector, particularly following <a href="https://cryptotale.org/blockchain-groups-5-point-crypto-plan-for-trump-admin/" rel="noopener noreferrer nofollow">Donald Trump&#39;s</a> election victory. The crypto market has gained approximately $1 trillion since Trump&#39;s November 5 win, with expectations of supportive industry regulations under his administration.<a href="https://cryptotale.org/singapore-gulf-bank-raises-50m-for-stablecoin-expansion/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Singapore Gulf Bank Raises $50M for Stablecoin Expansion

CryptoTale

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