Singapore Gulf Bank (SGB), a fully licensed digital wholesale bank backed by the Whampoa Group and Bahrain’s sovereign wealth fund, Mumtalakat, has officially announced a new stablecoin interoperability service designed to streamline institutional finance. The platform, which is expected to go live by the first quarter of 2026, will allow corporate clients to mint, trade, and convert stablecoins into fiat currency within a single, regulated environment. This new offering extends the capabilities of SGB Net, the bank’s proprietary real-time clearing network that currently processes more than $2 billion in monthly fiat transaction volume for digital asset firms across the Asia-GCC corridor, a report by Crypto News said.
The service will support major stablecoins, including USDC and USDT, across the Solana, Ethereum, and Arbitrum blockchains. By integrating these assets directly into a banking infrastructure, SGB aims to eliminate the operational fragmentation that currently plagues corporate treasury departments. Chief Executive Officer Shawn Chan noted that while stablecoins have become the essential “working capital” of the digital economy, the tools for managing them remain unnecessarily complex. The bank’s goal is to serve as a bridge between traditional and digital finance, offering near real-time settlement for high-volume cross-border transactions that were previously slow and expensive.
Security and regulatory compliance are central to the new platform, which includes built-in safeguards such as rigorous Know Your Customer (KYC), Know Your Business (KYB), and anti-money laundering (AML) controls. To ensure the safety of digital assets, SGB has continued its strategic partnership with Fireblocks, a leading crypto infrastructure provider, to handle institutional-grade custody. This partnership, established in late 2025, utilizes multi-party computation (MPC) cryptography to protect funds and automate treasury operations, allowing the bank to scale its services while mitigating operational risks.
The launch comes at a time of significant maturation for the global stablecoin market, which has seen the total market capitalization surpass $300 billion. The regulatory landscape has shifted rapidly with the enactment of the GENIUS Act in the United States and the introduction of central bank-approved stablecoins like USDU in the UAE. By positioning itself at the intersection of these regulated frameworks, Singapore Gulf Bank is moving to capture the increasing demand for dollar-backed liquidity and efficient global settlement solutions for institutional users.
