Prime Highlights:
- Singapore Gulf Bank (SGB) has launched a regulated fiat–stablecoin network, enabling institutions to manage stablecoins and fiat in one platform.
- The upgraded SGB Net supports faster settlements, simplified treasury operations, and transactions on major blockchains like Ethereum, Solana, and Arbitrum.
Key Facts:
- The bank’s new stablecoin services will be available to institutional clients in Q1 2026, following its corporate banking launch in 2024 and the initial rollout of SGB Net in 2025.
- SGB Net currently handles over $2 billion in monthly fiat transactions, growing at an average 92.64% month-on-month.
Background:
Singapore Gulf Bank (SGB), a digital wholesale bank regulated by the Central Bank of Bahrain, has launched a regulated fiat stablecoin network for institutional clients in Asia and the Gulf Cooperation Council (GCC).
The new service upgrades SGB Net, the bank’s real-time clearing platform, allowing institutions to create, convert, and settle major stablecoins like USDC and USDT directly with fiat currency, all within a single regulated system.
The bank says the platform is designed to fix inefficiencies in digital asset transactions, especially the need for multiple intermediaries. By combining fiat and stablecoin operations in one system, SGB allows faster settlements and easier money management.
SGB Net works with major blockchains like Ethereum, Solana, and Arbitrum, with security handled through a partnership with Fireblocks, finalized in November 2025.
SGB CEO Shawn Chan said the bank wants to make it easier for institutions to manage digital assets and traditional finance together. He noted that while stablecoins have become central to the digital asset economy, operational complexity has remained a major challenge for businesses.
The launch comes during a period of rapid growth for Singapore Gulf Bank. Backed by Whampoa Group and Bahrain’s sovereign wealth fund Mumtalakat, SGB reported that SGB Net currently processes more than $2 billion in monthly fiat transactions, with average month-on-month growth nearing 93 per cent.
Access to the new stablecoin functionality is expected to open to clients in the first quarter of 2026. This follows SGB’s corporate banking launch in late 2024 and the start of SGB Net in May 2025.
