Golden Finance reports that, according to informed sources, Singapore's Gulf Bank is seeking to raise at least $50 million in a round of financing and plans to acquire a stablecoin payment company next year. This startup bank was founded by Singapore family office Huangpu Group and has been licensed in Bahrain since February, negotiating with Middle Eastern sovereign wealth funds and other investors to sell less than 10% of its equity before early 2025. They requested anonymity as the matter is being conducted privately. The funds raised will primarily be used to accelerate product development, enhance the bank's payment network, and hire more staff; the bank plans to acquire a stablecoin payment company in the Middle East or Europe in the first quarter.