Odaily Planet Daily reports that Gulf Bank (SGB) of Singapore today announced the launch of its stablecoin issuance and redemption service. Corporate and high-net-worth clients can now directly exchange fiat currency for stablecoins through their SGB accounts, achieving 24/7 instant settlement without relying on traditional correspondent banking processes. To support the launch, SGB is pioneering a new approach in the banking industry by waiving gas fees and bank fees incurred by users minting and redeeming tokens on Solana for a limited time. At the end of the promotion, clients will also receive rewards based on their trading volume. SGB CEO, Tan Siang, stated: "The challenges of cross-border capital transfers and placement have become a key factor limiting customer growth. By directly integrating stablecoin issuance/redemption into the banking system, we have achieved real-time conversion between fiat currency and digital assets. We are building a bank for a borderless world." This service is integrated into SGB's proprietary clearing network, SGB Net, supporting seamless fund flows in both on-chain and off-chain environments. Initially, USDC transactions exceeding $100,000 are supported, with USDT, USDe (Ethena), and Global Dollar (USDG) to follow.

In the past hour, total liquidations across the network reached $61.04 million, with $7.52 million from long positions, with $53.52 million from short positions. BTC liquidation $42.72 million, ETH liquidation $8.64 million.

According to Odaily Planet Daily, market data shows that SIREN rebounded to 0.7 USDT after falling to a low of 0.258 USDT, with the 24-hour decline narrowing to 14.45%.

According to Gate data, Brent crude oil fell by 2.00% during the day, currently trading at $92.38 per barrel. (Odaily Planet Daily)

According to Odaily Planet Daily, OKX market data shows that BTC has broken through 76,000 USDT and is currently trading at 76,014 USDT, with a 24-hour increase of 1.56%.