Singapore Gulf Bank (SGB), backed by Whampoa Group and Mumtalakat, has launched a first-of-its-kind regulated platform that integrates fiat currencies and stablecoins into a single banking network.
Stablecoins are increasingly used in real financial operations, but managing them alongside fiat remains fragmented.
SGB Net brings USD and leading stablecoins together in one regulated platform, enabling near real-time settlement and simpler treasury workflows.
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— Singapore Gulf Bank (@SGB_app) February 2, 2026
Unified banking for digital assets and first
The upgrade builds on SGB Net, the bank’s proprietary real-time fiat settlement system, which currently processes over $2 billion in monthly transactions and is growing at more than 90% month-on-month. The new platform enables clients to mint, convert, hold, and trade stablecoins such as USDC and USDT alongside traditional currencies across major blockchains, including Ethereum, Solana, and Arbitrum.
Shawn Chan, CEO of SGB, emphasized the strategic importance of the upgrade, stating it simplifies treasury workflows, reduces operational fragmentation, and boosts capital efficiency for institutional users. “Stablecoins have become the working capital of the digital asset economy, yet managing them remains unnecessarily complex,” Chan said.
“This positions SGB as the default bank for managing fiat and multiple stablecoins within a single, regulated infrastructure.”
Near real-time settlement and institutional-grade security
The platform delivers near real-time settlement between fiat and digital assets, streamlining multi-currency treasury management for institutions. SGB Net ensures rigorous safety standards, supported by KYC, KYB, and AML protocols, while collaborating with issuers, ecosystem partners, and regulators to establish risk management frameworks. Access is expected to begin in Q1 2026.
This latest innovation follows SGB’s broader product rollout, including corporate banking services launched in 2024 and its partnership with Fireblocks in November 2025 for secure digital asset custody and treasury management. Analysts say the platform could set a new benchmark for regulated banking integration with the digital asset economy, offering institutions a unified, compliant, and efficient way to manage both fiat and crypto assets.
Meanwhile, SGB partnered with J.P. Morgan Payments to implement the Wire 365 solution, enabling 24/7 USD clearing for clients. This move positions SGB as a leading digital-first bank in the MENA region, offering seamless cross-border payment capabilities for both fiat and crypto settlements.
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