Fireblocks, an enterprise platform for secure digital asset custody, settlement, trading operations, and stablecoin payments, this week announced that Singapore Gulf Bank, a fully licensed digital wholesale bank regulated by the Central Bank of Bahrain, will leverage Fireblocks’ digital asset infrastructure to support secure treasury management and digital asset custody, including executing day-to-day treasury operations with automated workflows, as well as optimizing liquidity across multiple accounts and venues. Over time, Singapore Gulf Bank plans to expand its digital asset capabilities by using Fireblocks for on- and off-ramps and stablecoin issuance, unlocking additional opportunities for clients in the markets it services.
The bank, founded by the privately-held Singaporean investment firm, Whampoa Group, and backed by the sovereign wealth fund of the Kingdom of Bahrain, Mumtalakat––supports global corporate and retail clients by bridging traditional financial services and the rapidly growing digital asset economy through a unified banking solution to manage conventional and digital assets, as well as support seamless transactions between fiat and cryptocurrencies. It sought a trusted infrastructure provider capable of delivering secure digital asset solutions while meeting rigorous regulatory requirements.
By integrating Fireblocks, Singapore Gulf Bank gains access to a secure, scalable platform, allowing it to launch and grow its digital asset offerings, simplify operations, strengthen compliance, and deliver an improved experience for its crypto-native clients. Those clients will benefit from institutional-grade wallet protection: Fireblocks’ digital asset platform combines Multi-Party Computation (MPC) cryptography with secure hardware to provide multi-layered, battle-tested security. This safeguards against attacks, collusion, and human error, enabling SGB to scale its digital asset operations securely.
Shawn Chan, CEO of Singapore Gulf Bank, said,
“We exist to make regulated banking work for the digital asset economy. By using Fireblocks, we can automate processes, reduce operational risk, and most importantly, offer clients faster, safer access to digital asset services like crypto treasury, on and off ramps, and stablecoin transactions. This helps in supporting trading firms, exchanges, and payment providers with the type of banking experience they need to operate in a regulated environment.”
Singapore Gulf Bank was also named as part of the initial set of providers supporting the launch of the Fireblocks Network for Payments, which enables institutions to orchestrate global payment flows, such as cross-border treasury, payouts, remittances, and merchant settlements with complete control, across fiat and blockchain rails.
“SGB is enhancing options in banking by providing secure, reliable access to financial services for digital asset businesses,” said Stephen Richardson, chief strategy officer and head of banking at Fireblocks. “With Fireblocks’ enterprise-grade infrastructure, SGB is well positioned to streamline operations, mitigate risk, as well as enable real-time on-chain financial services as demand accelerates.”