SGB integrates stablecoins into its settlement infrastructure in Singapore

Singaporean financial capital has taken a significant step forward with the announced expansion of Singapore Gulf Bank (SGB). The bank introduced a major upgrade to its SGB Net network, its real-time multi-currency settlement platform, adding the ability to manage stablecoins in an integrated manner. This initiative positions SGB as a key institution in transforming how Singaporean capital interacts with digital assets.

Stablecoins: The New Driver of Regulated Settlement

With this update, SGB’s institutional clients will be able to trade, issue, convert, hold, and transfer stablecoins—including Circle’s USDC and Tether’s USDT—within a fully regulated single infrastructure. Stablecoins operate on recognized blockchains such as Ethereum and Solana, allowing users to access multiple networks from a centralized platform.

Shawn Chan, CEO of SGB, emphasized that although stablecoins have become the working capital of the digital asset economy, their management remains too complex. This solution aims to significantly simplify that process, establishing SGB as the default intermediary for those needing to manage both fiat currency and multiple stablecoins in a regulated environment.

Operations and Regulatory Compliance

The bank currently processes approximately $2 billion USD in transaction volume each month, a figure that could grow substantially with this new service. The infrastructure includes strict compliance controls—KYC, KYB, and AML—to ensure security and transparency.

Digital asset custody and security are managed through a collaboration with Fireblocks, a leading platform in digital asset protection. This partnership ensures that client funds meet the highest security standards.

Growing Market and Availability

According to data from DefiLlama, the stablecoin market currently has a total value of approximately $304.9 billion USD, reflecting its increasing importance in the global financial ecosystem. The network is expected to be fully available to clients by the first quarter of 2026.

Supported by major investors like Whampoa Group and Mumtalakat, SGB operates under the regulatory supervision of the Central Bank of Bahrain, ensuring a safe and compliant environment for stablecoin and Singaporean capital operations in the digital sphere.