Singapore Gulf Bank Launches SGB Net for Instant Digital Asset Transactions in MENA

Singapore Gulf Bank (SGB) has introduced SGB Net, a real-time clearing network aimed at facilitating digital asset transactions for businesses across the Middle East and North Africa (MENA). This initiative is a significant move to address long-standing issues in cross-border finance, such as settlement delays and high transaction fees.

SGB Net enables round-the-clock transfers in multiple currencies, eliminating the need for the SWIFT network or traditional banking hours. This allows businesses to send and receive funds instantly, with lower costs and fewer delays. The network enhances capital efficiency by providing direct access to institutional-grade liquidity and supports instant fiat and crypto conversions, enabling users to operate quickly and confidently in volatile markets.

The platform is designed to onboard a diverse range of market participants, including crypto exchanges, stablecoin issuers, over-the-counter (OTC) desks, market makers, and prime brokers. This interconnected ecosystem simplifies the movement of digital assets and fosters collaboration among financial players. Beyond transaction processing, SGB Net offers real-world financial tools for corporate users, such as automated payments, instant trade settlements, and efficient treasury management. The bank also collaborates with liquidity partners to provide institutional-level OTC trading with same-day fiat settlements.

SGB Net supports underserved markets through its offshore onboarding framework, allowing clients to expand into regions with limited banking access. The platform can help mitigate global market uncertainty by bypassing traditional correspondent banking networks and reducing foreign exchange costs, thereby improving cash flow and lowering geopolitical risks. The bank plans to introduce advanced services such as sub-accounts, off-exchange settlement, and tri-party solutions to support institutional workflows, including crypto deployment, tokenization, and fiat-equivalent management.