BNY Brings 24/7 Dollar Settlement to Singapore Gulf Bank

Singapore Gulf Bank has expanded round-the-clock U.S. dollar settlement through BNY, allowing eligible payments to clear during weekends and U.S. public holidays. For crypto markets, the move is notable because traditional banks are beginning to offer one of the features that made stablecoins compelling: dollars that move beyond banking hours. Traditional finance is starting to chip away at crypto’s monopoly on always-on money. Singapore Gulf Bank said it has adopted BNY’s 24/7 USD Book Transfers service, giving eligible corporate and retail clients the ability to settle qualifying dollar payments outside standard U.S. banking hours.

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