November 07, 2025
By Tsering Namgyal
Singapore Gulf Bank (SGB), a Bahrain-licensed digital wholesale bank backed by Singapore’s Whampoa Group and Bahrain’s sovereign wealth fund Mumtalakat, has partnered with Fireblocks to expand its digital asset infrastructure and treasury operations.
The collaboration will see SGB deploy Fireblocks’ enterprise-grade custody and settlement platform to manage digital assets securely, automate treasury workflows, and optimize liquidity across multiple venues. The bank also plans to use Fireblocks for on- and off-ramp services and stablecoin issuance, as it builds out a regulated digital asset banking ecosystem.
“We exist to make regulated banking work for the digital asset economy,” said Shawn Chan, CEO of Singapore Gulf Bank. “By using Fireblocks, we can automate processes, reduce operational risk, and offer clients faster, safer access to crypto treasury, stablecoin transactions, and other digital asset services.”
SGB, which launched operations earlier this year, aims to bridge traditional and digital finance, offering corporate and retail clients a unified platform to manage fiat and crypto holdings. The partnership marks another step in its strategy to serve exchanges, payment providers, and trading firms seeking compliant access to digital financial infrastructure.
By integrating Fireblocks, SGB gains access to the Fireblocks Network, a connectivity layer used by over 2,400 institutions—including fintechs, banks, and trading firms—for secure asset transfer and stablecoin payment orchestration. The bank is also among the first to join the Fireblocks Network for Payments, a system designed for cross-border treasury, remittances, and merchant settlements across fiat and blockchain rails.
“SGB is expanding secure access to financial services for digital asset businesses,” said Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks. “With Fireblocks’ infrastructure, the bank can streamline operations and enable real-time on-chain financial services as institutional demand grows.”
The announcement follows the May 2025 launch of SGB Net, a real-time multi-currency clearing network designed for digital asset firms. Together, SGB and Fireblocks are positioning themselves as key players in the regulated digital finance corridor connecting the Middle East and Asia—an emerging hub for institutional crypto and stablecoin innovation.
About the author
Tsering Namgyal is the editor-in-chief of Blockwind.news.
