Singapore Gulf Bank (SGB) has announced a partnership with Fireblocks, a platform for secure digital asset custody, settlement, trading, and stablecoin payments. The collaboration will allow SGB to use Fireblocks’ infrastructure to manage digital assets securely, automate treasury operations, and optimise liquidity across multiple accounts and venues.
SGB, a fully licensed digital wholesale bank regulated by the Central Bank of Bahrain, was founded by Singapore-based investment firm Whampoa Group and backed by Bahrain’s sovereign wealth fund, Mumtalakat. The bank provides financial services that bridge traditional banking and the growing digital asset economy, offering clients the ability to manage both fiat and cryptocurrency assets within one platform.
By integrating Fireblocks’ technology, SGB aims to simplify its treasury operations and meet strict regulatory standards while supporting future growth. The bank also plans to expand its services to include on- and off-ramp transactions and stablecoin issuance, helping clients access a broader range of digital asset services.
Enhanced security and automation
Fireblocks’ platform uses Multi-Party Computation (MPC) cryptography and secure hardware to deliver institutional-grade wallet protection. This multi-layered approach prevents attacks, collusion, and human error, enabling SGB to scale its digital asset operations safely.
Shawn Chan, CEO of Singapore Gulf Bank, said, “We exist to make regulated banking work for the digital asset economy. By using Fireblocks, we’re able to automate processes, reduce operational risk, and most importantly offer clients faster, safer access to digital asset services like crypto treasury, on and off ramps, and stablecoin transactions. This helps in supporting trading firms, exchanges, and payment providers with the type of banking experience they need to operate in a regulated environment.”
Expanding global connectivity
Through this partnership, SGB will gain access to the Fireblocks Network, which connects more than 2,400 institutions, including fintechs, banks, payment providers, and exchanges. The network provides a secure and interoperable infrastructure for on-chain asset transfers, stablecoin payments, and crypto trading.
SGB is among the first banks to support the launch of the Fireblocks Network for Payments, which allows institutions to coordinate global payment flows such as cross-border treasury, remittances, and merchant settlements across both fiat and blockchain systems.
Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks, said, “SGB is enhancing options in banking by providing secure, reliable access to financial services for digital asset businesses. With Fireblocks’ enterprise-grade infrastructure, SGB is well positioned to streamline operations, mitigate risk, as well as enable real-time on-chain financial services as demand accelerates.”
The announcement follows the May 2025 launch of SGB Net, a multi-currency clearing network supporting digital asset firms. Together, Fireblocks and SGB aim to build a more connected and efficient financial ecosystem by linking exchanges, stablecoin issuers, and other digital asset players under a unified, secure infrastructure.
