Manama, Bahrain, Monday, 2 February: Singapore Gulf Bank (SGB), a fully licensed bank backed by Whampoa Group and Mumtalakat, has today announced a GCC and Asian industry first bank-operated network that brings fiat currencies and stablecoins together in one regulated platform enabling near real-time settlement and simpler treasury workflows. This represents an evolution of SGB Net, its proprietary real-time fiat currencies settlement network.
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SGB Net currently processes more than USD 2 billion in monthly fiat transaction volume, and is growing rapidly by more than 90% month-on-month. The new upgrade extends the network’s real-time, multi-currency settlement capabilities into the stablecoin domain, creating a unified, regulated environment for managing both fiat and digital assets.
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The stablecoin layer will allow clients to conveniently mint, convert, hold, and trade leading stablecoins, including USDC and USDT, on major blockchains such as Solana, Ethereum and Arbitrum across the SGB Net participants. By consolidating these capabilities within a single regulated banking platform, SGB Net eliminates operational fragmentation and significantly simplifies payments and treasury management, and boosts capital efficiency for institutional users.
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“Our ambition is to become the one bank for all of finance,” said Shawn Chan, Chief Executive Officer of SGB. “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.”
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The upgrade offers a number of benefits for institutional users, including near real-time settlements between fiat curriencies and various stablecoins, simplified treasury management across multiple currencies and blockchains, and institutional-grade safety supported by rigorous KYC, KYB, and AML controls.
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SGB is working with issuers, ecosystem partners and regulators to establish appropriate guardrails and risk management frameworks. Access is scheduled to begin in Q1 2026.
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The launch marks the latest milestone in SGB’s accelerated product roadmap. The bank introduced its corporate banking services in late 2024, followed by the launch of SGB Net in May 2025. In November 2025, SGB announced its partnership with Fireblocks to support secure digital asset custody and treasury operations. This latest SGB Net upgrade continues SGB’s strategy of integrating traditional banking with the digital asset economy through regulated, bank-grade infrastructure.

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