CoinVoice has recently learned that, according to Bloomberg, insiders revealed that Singapore's Gulf Bank is seeking to raise at least $50 million and plans to acquire a stablecoin payment company next year.
This startup bank was founded by Singapore's family office Whampoa Group and has been licensed in Bahrain since February. Currently, the bank is in negotiations with Middle Eastern sovereign wealth funds and other investors, planning to sell less than 10% of its equity by early 2025.
Insiders say the funds will primarily be used to accelerate product development, enhance the bank's payment network, and hire more staff. They indicated that Gulf Bank plans to acquire a stablecoin payment company in the Middle East or Europe in the first quarter. A bank spokesperson declined to comment on the financing, valuation, or acquisition plans. [Original link]
