Singapore Gulf Bank Launches USDC Minting Service
- Real-Time Settlement Service: Singapore Gulf Bank's newly launched USDC minting and redemption service utilizes the Solana blockchain for real-time settlement, aiming to address cross-border payment delays and enhance liquidity management for global businesses.
- Decentralization Advantage: The service allows corporate and high-net-worth clients to convert fiat to USDC directly through their accounts, with transactions over $100,000 qualifying for instant processing, significantly reducing reliance on correspondent banks and accelerating global fund transfers.
- Fee Waivers and Incentives: To promote adoption, the bank has waived fees for minting and redeeming activities during a promotional period, and will offer volume-based rewards post-promotion, further enticing institutional clients to utilize the service.
- Future Expansion Plans: While the service currently supports USDC for large transactions only, Singapore Gulf Bank plans to add USDT, USDe, and USDG in future updates, with potential retail access by the end of Q2, thereby further linking traditional banking with digital asset systems.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0232 | 0.0276 | 0.032 | 0.0364 | 0.0408 | 0.0452 | 0.0496 |
| Fibonacci | 0.0276 | 0.031 | 0.033 | 0.0364 | 0.0398 | 0.0418 | 0.0452 |
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