Gulf Bank of Singapore revolutionizes stablecoin settlement in Asia with new infrastructure

Singapore Reinforces Its Position as Asia’s Financial Capital. Singapore’s Gulf Bank (SGB) has announced a major expansion of its SGB Net settlement platform, now fully integrated to operate with stablecoins. This initiative marks a significant milestone in institutional adoption of digital currencies in the region.

An All-in-One Infrastructure for Managing Digital Money

Institutional clients will have access to a unified solution where they can trade, issue, convert, hold, and transfer major stablecoins such as USDC from Circle and Tether’s USDT. Both digital currencies operate on top-tier blockchains like Ethereum and Solana, ensuring compatibility and operational flexibility.

All of this functions within a single regulated platform, eliminating the need for multiple intermediaries. Shawn Chan, CEO of SGB, explained the vision behind this transformation: “Stablecoins have become the financial engine of the digital asset economy, but their management remains too fragmented. This launch positions SGB as the leading institution to consolidate traditional money and stablecoins within a regulated ecosystem.”

Compliance and Security as Core Pillars

The bank implements strict regulatory compliance controls, including Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) protections. The security and custody of digital assets are managed in partnership with Fireblocks, a global leader in digital custody infrastructure.

SGB processes approximately $2 billion in fiat currency transaction volume each month, demonstrating operational robustness and the trust of its institutional clients.

The Stablecoin Market Continues Its Global Expansion

According to data from DefiLlama, the total stablecoin market reaches $304.9 billion, reflecting the growing importance of these currencies in digital financial infrastructure. The addition of this functionality at SGB aligns with the trend of traditional financial institutions seeking to integrate these tools into their operations.

The rollout is scheduled for the first quarter of 2026. SGB is strategically backed by Whampoa Group and Mumtalakat, and is regulated by the Central Bank of Bahrain, ensuring a solid regulatory framework for its regional operations.