đ¨ ALARMING: Gulf Bank Seeks $50 Million for Stablecoin Payment Takeover â Whatâs the Catch? đ¨
Singaporeâs Gulf Bank is making waves, aiming to secure $50 million in funding for a bold move to acquire a stablecoin payment company in 2025, according to Odaily. The bank, backed by the Whampoa Group, is currently under a Bahrain license and is courting Middle Eastern sovereign wealth funds and private investors.
đĄ Shocking Details Unveiled:
Equity Sale: Gulf Bank plans to sell less than 10% equity by early 2025 to fuel its expansion.Acquisition Target: A stablecoin payment company in the Middle East or Europe is in its sights for Q1 next year.Growth Focus: The funds will drive product innovation, enhance payment networks, and grow their workforce.
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