SGB partners with Fireblocks to advance digital asset banking

By Vriti Gothi

Singapore Gulf Bank (SGB), a fully licensed digital wholesale bank regulated by the Central Bank of Bahrain, has selected Fireblocks to power its digital asset wallet and treasury infrastructure.

The partnership marks a key milestone in SGB’s digital transformation strategy, as the bank advances its mission to bridge traditional and digital finance for institutional and retail clients across global markets. Leveraging Fireblocks’ enterprise-grade platform, SGB will deploy secure wallet infrastructure to support treasury management, custody operations, and automated liquidity optimisation across multiple accounts and venues.

Over time, SGB plans to expand its use of Fireblocks’ infrastructure to enable digital asset on- and off-ramps, as well as support the issuance of stablecoins initiatives that will enhance access to new financial products and unlock additional value for its clients.

Founded by Whampoa Group, a privately held Singaporean investment firm, and backed by Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain, SGB provides a unified platform that allows clients to manage both conventional and digital assets seamlessly. The bank’s partnership with Fireblocks underscores its commitment to regulatory compliance, operational resilience, and delivering a trusted digital banking experience.

By integrating Fireblocks’ secure and scalable infrastructure, SGB will be able to simplify treasury operations, strengthen compliance controls, and enhance customer experience. Fireblocks’ multi-layered security architecture combines Multi-Party Computation (MPC) cryptography with secure hardware protection, offering institutional-grade defences against internal and external threats, including cyberattacks and human error.

Shawn Chan, CEO of Singapore Gulf Bank, said, “We exist to make regulated banking work for the digital asset economy. By using Fireblocks, we’re able to automate processes, reduce operational risk, and most importantly, offer clients faster, safer access to digital asset services such as crypto treasury, on- and off-ramps, and stablecoin transactions. This supports trading firms, exchanges, and payment providers with the type of banking experience they need to operate in a regulated environment.”