Singapore Gulf Bank, backed by Bahrain’s Mumtalakat Sovereign Wealth Fund and Singapore’s Whampoa Group, aims to raise $50 million in funding and acquire a stablecoin payment company by 2025. The bank plans to sell less than 10% of its equity to enhance product development, expand its payment network, and hire new talent. The goal is to bridge the gap between traditional banking and digital assets, and the acquisition of a stablecoin payment company will help offer better payment options to customers. The bank also plans to roll out individual digital asset management services by the end of the year.



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