Institutional Programs

Short institutional research notes on stablecoin, bank-money, treasury, servicing, and bridge-market developments, with proof routing and reference links.

Stablecoin supply

$302.4B

+3% in 3M

Transfer volume

$1.4T

+57% in 6M

Active addresses

55.8M

+8% in 6M

Tokenized Treasuries

$13.8B

+50% in 6M

Cross-border
|High signal

SGB brings USDC mint-and-redeem into Bahrain banking

Singapore Gulf Bank’s April 17 launch gives Bahrain a bank-account stablecoin conversion rail: corporate and high-net-worth clients can move between fiat and USDC through SGB accounts and SGB Net. The evidence proves a live service lane, not flow scale, retail availability, or SGB issuance of the stablecoins.

SGB’s April 17 release proves a live bank-channel fiat-to-stablecoin workflow through SGB accounts and SGB Net.

Singapore Gulf Bank LaunchesApr 17, 2026

Institutional Programs

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Singapore • Central bank

Monetary Authority of Singapore

Monetary Authority of Singapore logo
BLOOM is the settlement equivalent of Project Guardian, supporting industry trials with tokenised bank liabilities and regulated stablecoins.
Innovation, Supervision and Partnerships: Priorities in a Changing...Dec 3, 2025
MAS launched BLOOM to enable settlement in tokenised bank liabilities and well-regulated stablecoins.
It is coordinating networks for the use, transfer and redemption of settlement assets.
MAS Launches BLOOM Initiative to Extend Settlement CapabilitiesOct 16, 2025
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