Singapore Gulf Bank, backed by Bahrain’s Mumtalakat Sovereign Wealth Fund and Singapore’s Whampoa Group, has set its sights on ambitious goals for 2025. The bank aims to raise at least $50 million in funding and acquire a stablecoin payment company as part of its strategy to solidify its position in the evolving financial landscape.

$50M Fundraising to Power Growth

The bank, which secured a license in Bahrain earlier this year, is in discussions with a Middle Eastern sovereign wealth fund and other potential investors. The bank plans to sell less than 10% of its equity by early 2025, with the funds primarily focused on enhancing product development, expanding its payment network, and hiring new talent.

This funding round highlights the bank’s commitment to bridging the gap between traditional banking and digital assets. With a focus on innovation, the funds will enable Singapore Gulf Bank to stay ahead in a competitive market where digital finance is gaining traction.

Stablecoin Acquisition by 2025

Adding to its growth strategy, Singapore Gulf Bank plans to acquire a stablecoin payment company based in the Middle East or Europe during the first quarter of 2025. Stablecoins, which are pegged to fiat currencies like the U.S. dollar, offer speed, lower costs, and greater accessibility compared to traditional banking systems.

This move will help Singapore Gulf Bank offer better payment options, making it easier for customers to handle transactions across the globe.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed