Bahrain based Singapore Gulf Bank, a fully licensed digital bank in MENA with permission to integrate customers from across the world digitally and to serve crypto clients, has appointed the former U.S. Federal Reserve vice chair Randal Quaties as vice chairman of its newly-formed global advisory board. The new appointment aims to support the international growth.

Singapore Gulf Bank, which is backed by Whampoa Group and Bahrain’s sovereign wealth fund Mumtalakat, noted that the global advisory board would be chaired by Whampoa Group’s founder Amy Lee. Other board members include co-founder of China’s largest online travel agency Ctrip Fan Min, founding CEO of Boyu Capital Louis Cheung and Beyon Digital’s CEO Shaikh Mohamed Khalifa Al Khalifa.

Matrixport’s chairman Wu Jihan and Jiangsu General Chamber of Commerce’s president Fan Yurong are also members. Matrixport offers a comprehensive suite of innovative and easy-to-use crypto investment products and financial services tailored for all levels of expertise.

In April 2025, Singapore Gulf Bank (SGB) launched its personal banking services, and will enable instant movement between crypto and fiat via top licensed exchanges with instant off and on ramping. Earlier in 2024 Singapore Gulf Bank was in talks with a Middle East sovereign wealth fund to raise $50 million to acquire a stablecoin payments company in 2025 either in the Middle East or Europe.

The bank already offers digital asset/crypto custody services.