Singapore Gulf Bank, a fully licensed bank backed by Whampoa Group and Mumtalakat, has announced what it claims is a GCC and Asian industry first bank-operated network delivering full interoperability between fiat and stablecoins. This represents an evolution of SGB Net, its proprietary real-time clearing network.
SGB Net currently processes nearly $2 billion in monthly fiat transaction volumes. The new upgrade extends the network’s real-time, multi-currency clearing capabilities into the stablecoin domain, creating a unified, regulated environment for managing both fiat and digital assets.
The stablecoin layer will allow clients to mint, convert, hold, and transfer leading stablecoins including USDC and USDT across major blockchains such as Ethereum, Arbitrum and Solana with near real-time settlement. By consolidating these capabilities within a single regulated banking platform, SGB Net eliminates operational fragmentation and significantly simplifies payments, treasury management, and cross-border liquidity operations for institutional users.
“Our ambition is to become the one bank for all of finance,” said Singapore Gulf Bank CEO Shawn Chan. “Stablecoins have become the working capital of the digital asset economy, yet managing them remains unnecessarily complex. This upgrade to SGB Net positions Singapore Gulf Bank as the default bank for managing fiat and multiple stablecoins within a single, regulated infrastructure.”
The upgrade offers a number of benefits for institutional users including real-time, settlements between fiat and stablecoins across borders, simplified treasury management across multiple currencies and blockchains, and institutional-grade safety supported by rigorous KYC, KYB, and AML controls. Digital asset custody and transaction security are underpinned by Singapore Gulf Bank’s partnership with Fireblocks.
Singapore Gulf Bank is working with issuers, ecosystem partners and regulators to establish appropriate guardrails and risk management frameworks. Access is scheduled to begin in Q1 2026.
The launch marks the latest milestone in the bank’s accelerated product roadmap. It introduced its corporate banking services in late 2024, followed by the launch of SGB Net in May 2025. In November 2025, Singapore Gulf Bank announced its partnership with Fireblocks to support secure digital asset custody and treasury operations. This latest SGB Net upgrade continues SGB’s strategy of integrating traditional banking with the digital asset economy through regulated, bank-grade infrastructure.
