SGB blends fiat and crypto settlement on single platform

By Vriti Gothi

Singapore Gulf Bank (SGB) has launched what it describes as the first bank-operated network in the GCC and Asia to integrate US dollar transactions and stablecoins within a single regulated platform, extending its proprietary SGB Net clearing infrastructure into the digital asset domain.

Announced on Monday from Manama, Bahrain, the upgrade enables near real-time settlement across fiat and selected stablecoins, including USDC and USDT, on major blockchains such as Solana, Ethereum and Arbitrum. The move expands SGB Net’s existing multi-currency clearing capabilities to include minting, conversion, custody and trading of stablecoins within a unified banking environment.

SGB Net currently processes more than $2 billion in monthly fiat transaction volume and has recorded average month-on-month growth of 92.64%, according to the bank. By consolidating fiat and digital asset workflows into a single regulated infrastructure, SGB aims to reduce operational fragmentation for institutional clients managing cross-border payments and treasury operations.

“Our ambition is to become the one bank for all of finance,” said Shawn Chan, Chief Executive Officer of SGB. “Stablecoins have become the working capital of the digital asset economy, yet managing them remains unnecessarily complex. This upgrade to SGB Net positions SGB as the default bank for managing fiat and multiple stablecoins within a single, regulated infrastructure.”

The integration reflects a broader trend among regulated financial institutions seeking to bridge traditional banking rails with blockchain-based settlement networks. Stablecoins have increasingly been used for cross-border liquidity management and on-chain transactions, but institutional adoption has often been constrained by regulatory uncertainty, custody concerns and operational complexity.

SGB said its platform incorporates institutional-grade compliance controls, including KYC, KYB and AML processes, and leverages its partnership with digital asset custody provider Fireblocks to support transaction security and asset safekeeping. The bank added that it is working with issuers, ecosystem partners and regulators to establish guardrails and risk management frameworks for the expanded network.

Access to the upgraded platform is scheduled to begin in the first quarter of 2026.

The launch marks the latest phase in SGB’s product roadmap. The bank introduced corporate banking services in late 2024, followed by the launch of SGB Net in May 2025. In November 2025, it announced its partnership with Fireblocks to enhance digital asset custody and treasury capabilities. The latest upgrade underscores SGB’s strategy of positioning regulated banking infrastructure at the intersection of fiat and digital asset markets, as competition intensifies among financial institutions seeking to support institutional-grade crypto-finance services.