UAE regulated AQUANOW, a global digital asset infrastructure provider, has partnered with Bahrain based SFB, a fully licensed digital bank regulated by the Central Bank of Bahrain (CBB), to make fiat banking services more accessible to institutional and enterprise participants in the digital asset space by offering on and off ramp services between fiat currencies and crypto.

Backed by Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s Whampoa Group, SGB is the only bank in MENA authorized to digitally onboard clients globally. 

Under the partnership, Aquanow’s global client base – including exchanges, payment providers, OTC desks, neobanks, and fintechs – can now open USD bank accounts, settle trades, and move funds freely, by leveraging SGB’s full SWIFT membership and regulatory standing.

As per the press release, this will enable businesses to seamlessly move assets 24/7, in major currencies such as USD, AED, SAR, BHD, SGD, EUR, HKD, and CNH. The partnership will additionally integrate Aquanow’s globally deployed digital asset services with SGB’s regulated banking network and real-time settlement platform, SGB Net, to enable seamless on and off-ramping between crypto and fiat. 

“As digital assets become part of everyday financial operations, institutions need more than access – they need reliable, compliant infrastructure to operate at scale,” said Phil Sham, CEO & Co-Founder of Aquanow. “Our partnership with SGB addresses that head-on. By integrating with a regulated institution like SGB, we will enable a more crypto-friendly banking environment for various stakeholders. This is a critical step in closing infrastructure gaps and unlocking a more seamless, borderless financial system for our clients.”

Shawn Chan, CEO of SGB, stated, “Our partnership with Aquanow marks a significant step forward in bridging digital assets with regulated banking infrastructure. By combining Aquanow’s institutional-grade platform with SGB’s banking capabilities and global onboarding reach, we’re facilitating seamless access to fiat for digital asset users.”

Aquanow and SGB aim to make the present and future of money accessible by enabling secure solutions for fiat access, crypto settlements, and 24/7 cross-border payments.‍

Aquanow had already partnered as well with UAE digital bank Liv Bank. Utilizing services of both Aquanow crypto exchange in the UAE, as well as Zodia Custody services, UAE Liv Bank have showcased themselves as a trusted partner to invest in crypto

This month in the UAE RAK Bank also partnered with a crypto exchange to launch its own crypto brokerage service via its mobile app for retail customers, making it the first conventional bank in the UAE to enable crypto trading services for its customers.

RAKBANK will be providing its customers with seamless, fast, and efficient access to digital assets in a fully regulated way using BitPanda crypto exchange infrastructure.