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Singapore Gulf Bank is planning to raise at least $50 million to acquire a stablecoin payments company, with intentions to close the funding round by early 2025. The initiative is backed by Bahrain Mumtalakat Holding Co., which is a sovereign wealth fund. The bank aims to expand its digital and traditional banking solutions through this acquisition and is considering selling a small equity stake of under 10% to facilitate the deal. The move comes amid a backdrop of renewed optimism in the cryptocurrency sector, particularly following the Trump administration's policies.
Indian fintech platform Yubi is looking to raise up to $200 million early next year to finance its global expansion https://t.co/PJIjIjFyU0
Marina Bay Sands is marketing a loan of as much as S$12 billion ($8.9 billion) as it seeks to fund a planned expansion of its casino resort in Singapore https://t.co/WMzCVnrKyA
ARTICLE: Singapore Gulf Bank is planning to raise $50M for a stablecoin payments acquisition. Talks include investors like a Middle Eastern sovereign wealth fund, with plans to sell under 10% equity by early 2025. More details in our article. ↓ https://t.co/5Zq1Jm6UYk