Singapore Gulf Bank (SGB) has launched SGB Net, a real-time clearing network designed to power digital asset transactions for businesses across the Middle East and North Africa (MENA).
According to a May 1 statement, this move marks a significant step toward addressing long-standing issues in cross-border finance, including settlement delays and high transaction fees.
Notably, the initiative builds on the crypto-friendly bank’s plans to acquire a stablecoin payments company this year to expand its business in the emerging sector.
SGB Net
SGB Net allows round-the-clock transfers in multiple currencies without relying on the SWIFT network or traditional banking hours. This means businesses can send and receive funds instantly, with lower costs and fewer delays.
According to the bank, SGB Net enhances capital efficiency by offering direct access to institutional-grade liquidity. It also supports instant fiat and crypto conversions, allowing its users to operate quickly, flexibly, and confidently in volatile markets.
SGB Net is onboarding various market participants, including crypto exchanges, stablecoin issuers, over-the-counter (OTC) desks, market makers, and prime brokers. This diverse network is designed to simplify the movement of digital assets and create an interconnected ecosystem of financial players.
Beyond transaction processing, the platform offers real-world financial tools for corporate users. Businesses can automate payments, settle trades instantly, and manage treasury operations more efficiently. The bank also works with liquidity partners to deliver institutional-level OTC trading with same-day fiat settlements.
Meanwhile, SGB said the platform supports underserved markets through its offshore onboarding framework, allowing clients to expand into regions with limited banking access.
The bank also noted that SGB Net can help mitigate the current global market uncertainty by bypassing traditional correspondent banking networks and reducing foreign exchange costs. This way, the clearing network can improve cash flow and lower geopolitical risks.
SGB plans to introduce advanced services such as sub-accounts, off-exchange settlement, and tri-party solutions. These will support institutional workflows, including crypto deployment, tokenization, and fiat-equivalent management.
