Singapore Gulf Bank (SGB), a fully licensed bank backed by Whampoa Group and Mumtalakat, said it has launched what it described as a first-of-its-kind, regulated, bank-operated network that brings U.S. dollars and stablecoins together on a single platform, enabling near-real-time settlement and streamlining treasury workflows across regions.
The new capability expands SGB Net, the bank’s proprietary real-time clearing network. SGB said SGB Net currently processes more than $2 billion in monthly fiat transaction volume and is growing at a 92.64% month-on-month rate.
With the upgrade, SGB Net extends its real-time, multi-currency clearing functions into stablecoins, creating what the bank called a unified, regulated environment for managing both fiat and digital assets. The stablecoin layer is designed to let clients mint, convert, hold, and trade stablecoins, including USDC and USDT, across major blockchains such as Solana, Ethereum, and Arbitrum, among SGB Net participants.
SGB said consolidating fiat and stablecoin capabilities within a regulated banking platform is intended to reduce operational fragmentation for institutional users and simplify payments, treasury management, and cross-border liquidity operations. The bank added that the platform supports institutional controls, including KYC, KYB, and AML, and that custody and transaction security are supported through its partnership with Fireblocks.
The bank said it is working with issuers, ecosystem partners, and regulators to establish guardrails and risk management frameworks, with access scheduled to begin in Q1 2026.
SGB positioned the launch as the latest step in an accelerated product roadmap. The bank introduced corporate banking services in late 2024, launched SGB Net in May 2025, and announced its partnership with Fireblocks in November 2025 to support secure digital asset custody and treasury operations. SGB said the newest SGB Net upgrade continues its strategy of integrating traditional banking services with the digital asset economy through regulated, bank-grade infrastructure.
KEY QUOTE:
“Our ambition is to become the one bank for all of finance. Stablecoins have become the working capital of the digital asset economy, yet managing them remains unnecessarily complex. This upgrade to SGB Net positions SGB as the default bank for managing fiat and multiple stablecoins within a single, regulated infrastructure.”
Shawn Chan, Chief Executive Officer, Singapore Gulf Bank
