Singapore Gulf Bank Adopts BNY 24/7 Dollar Settlement Service for Weekends and U.S. Holidays.Singapore Gulf Bank has adopted BNY’s 24/7 dollar ledger transfer service, allowing eligible corporate and retail customers to settle qualifying U.S. dollar payments on weekends and U.S. public holidays. According to Odaily, the service supports account funding, corporate payables, and time-sensitive cross-border treasury transactions, with dollars able to settle at any time between eligible accounts held directly at BNY or through correspondent banks connected to the network.
Singapore Gulf Bank said it is among the first financial institutions globally to adopt the system. BNY’s EMEA head of global payments and trade, Bana Akkad Azhari, said around-the-clock dollar settlement can improve liquidity management and flexibility in meeting urgent financial obligations. The service is available only to eligible institutions and accounts and does not replicate a permissionless blockchain settlement model.
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Singapore Gulf Bank said it is among the first financial institutions globally to adopt the system. BNY’s EMEA head of global payments and trade, Bana Akkad Azhari, said around-the-clock dollar settlement can improve liquidity management and flexibility in meeting urgent financial obligations. The service is available only to eligible institutions and accounts and does not replicate a permissionless blockchain settlement model.
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