Singapore Gulf Bank announced the integration of USDC and USDT stablecoins for its SGB Net platform, slated for Q1 2026, enhancing digital asset settlement capabilities across Solana, Ethereum, and Arbitrum.
The upgrade positions Singapore Gulf Bank as a key player in stabilizing transactions for institutional clients, potentially transforming fiat-digital asset interactions in Asia and the Gulf Cooperation Council regions.
SGB Enables Stablecoin Settlement on Major Blockchains
Singapore Gulf Bank (SGB) announced the integration of stablecoin settlement on its SGB Net platform, supported by major blockchains. This significant update enables seamless fiat and digital asset transactions for institutional clients starting Q1 2026.
The Bahrain-regulated bank, backed by Whampoa Group and Mumtalakat, partnered with Fireblocks for digital asset custody. The network supports USDC and USDT stablecoins on Solana, Ethereum, and Arbitrum blockchains, highlighting SGB’s innovative financial solutions. As Shawn Chan, Chief Executive Officer, Singapore Gulf Bank, said, “Stablecoins have become the working capital of the digital asset economy, yet managing them remains unnecessarily complex.”
SGB Net Processes Over $2 Billion Monthly
Industry observers view this as a pivotal step, enhancing transaction efficiency. While no new funding was announced, SGB Net’s existing monthly processing capacity exceeds $2 billion, underscoring its robust operations and the potential for increased digital asset adoption.
Market analysts indicate that incorporating stablecoins may streamline financial transactions and encourage wider blockchain utilization. The integration aligns with growing demand for secure, adaptable digital asset services, potentially transforming institutional approaches to stablecoins.
Innovative Blockchain Infrastructure Pioneered by SGB
SGB’s roadmap reflects consistent growth since launching corporate banking, SGB Net, and now stablecoin integration. No similar events in the past used this level of blockchain infrastructure, illustrating a unique approach to regulated fiat-digital services.
Experts suggest this move could foster greater innovation within the digital finance sector. By leveraging stablecoins, SGB may offer more versatile transaction options, aligning with broader financial technology trends aimed at enhancing global finance strategies. Shawn Chan, Chief Executive Officer, Singapore Gulf Bank, further stated, “Our ambition is to become the one bank for all of finance.”
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