SGB, Standard Chartered partner for settlement capabilities

By Aarav Garg

Singapore Gulf Bank has entered into a strategic banking relationship with Standard Chartered to strengthen cross-border clearing and settlement capabilities, as financial institutions continue to invest in infrastructure supporting faster international payments and digital asset activity.

The partnership is intended to enhance Singapore Gulf Bank’s multi-currency services and payment rails across emerging markets, particularly in the Middle East and Asia. The collaboration also aims to reduce friction in cross-border transactions by improving correspondent banking flows and settlement efficiency for clients operating across multiple jurisdictions.

“Reliable, high-speed settlement is a necessity for global businesses, yet emerging markets remain structurally disadvantaged due to complex multi-layered intermediary routing,”  said Shawn Chan, Chief Executive Officer of SGB. “By partnering with Standard Chartered, SGB is resolving the bottlenecks and providing the modern infrastructure required to power the digital asset economy across these vital corridors.”

The announcement follows a series of infrastructure developments by Singapore Gulf Bank over the past two years. The bank launched its corporate banking services in late 2024 and later introduced SGB Net, a platform designed to support real-time, multi-currency settlement. It also expanded its digital asset infrastructure through a partnership with Fireblocks focused on treasury management and custody services.

“Cross-border payment flows across key growth corridors are accelerating, and the infrastructure supporting them is evolving to match that pace. Standard Chartered’s  global network and clearing capabilities enable real-time, transparent settlement where it matters most,” said Karine Zakhour, Head of Banks and Broker Dealers (BBD) for the Middle East and Pakistan at Standard Chartered. “In Bahrain, we continue to support clients through robust correspondent banking solutions, underpinned by a strong regulatory environment and a well-established financial ecosystem reinforcing the Kingdom’s position as a stable and well-regulated financial centre for global transactions.” 

The partnership highlights how banks are increasingly combining traditional correspondent banking capabilities with digital asset infrastructure as competition intensifies around global payments, settlement efficiency and institutional digital finance services.