Singapore Gulf Bank looks to sell equity stake to fund product expansion and a 2025 stablecoin payments acquisition.
The crypto-friendly digital bank Singapore Gulf Bank is reportedly looking for a fund injection of at least $50 million as it plans to acquire a stablecoin payments company in 2025.
On Nov. 25, Bloomberg reported that Singapore Gulf Bank was willing to sell 10% of its equity by early 2025 to raise funds for an acquisition, citing anonymous people with direct knowledge of the matter.
The bank is run by the Whampoa Group, a family office based in Singapore, which was recently awarded operational license approval in Bahrain.
