Singapore Gulf Bank Seeks $50M Funding and Stablecoin Acquisition in 2025

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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.