Singapore Gulf Bank (SGB) has upgraded its SGB Net clearing network to support stablecoin transactions for institutional clients. The enhanced platform now allows clients to trade, mint, convert, hold, and transfer stablecoins such as USDC and USDT across Ethereum, Arbitrum, and Solana blockchains. This service is exclusive to SGB's corporate clients and integrates stablecoin management with fiat currency operations within a single banking platform. The upgrade aims to simplify stablecoin management, positioning SGB as a leading bank for digital asset transactions. SGB Net processes approximately $2 billion in monthly fiat transactions and now includes compliance measures like KYC, KYB, and AML, with digital asset security provided by Fireblocks. The service is set to launch in Q1 2026, as SGB collaborates with issuers, partners, and regulators to establish risk management and operational standards.
Singapore Gulf Bank Enhances SGB Net for Stablecoin Transactions
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