Bahrain Singapore Gulf Bank offers crypto off and on ramping to retail clients

Bahrain Singapore Gulf Bank offers crypto off and on ramping to retail clients

Singapore Gulf Bank (SGB) based in Bahrain, has launched its personal banking services, and will enable instant movement between crypto and fiat via top licensed exchanges with instant off and on ramping.

Backed by Bahrain’s sovereign wealth fund Mumtalakat and Whampoa Group, SGB is the only licensed bank in the MENA region to provide global clients with remote onboarding and integrated access to both conventional and digital finance. This expansion follows strong demand for SGB’s corporate banking services and addresses long-standing pain points for globally connected customers.

SGB will offer unified access to crypto and fiat and enable instant movement between crypto and fiat via top licensed exchanges.
Instant on- and off-ramping. It will also offer direct integration with regulated exchanges allows real-time, secure conversion between digital and fiat currencies.

The bank aims to simplify cross border payments, whether via wire transfers, crypto rails or SGB-issued cards making international transactions for business, travel, education are effortless.


From high-yield savings accounts to exclusive opportunities across Asia and MENA, clients can manage both traditional and digital assets through one trusted platform.

SGB began offering services in Bahrain and sought to acquire stablecoin company

In November 2024, Singapore Gulf Bank, announced it 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.

SGB started its operations in Bahrain serving corporate customers with digital banking services, noting that it would be extending its digital banking services to individual clients by the end of 2024. The bank added that SGB would provide a real-time settlement network, digital assets custody and intuitive trading solutions, all underpinned by robust AML/KYC measures.

In Saudi Arabia a new digital bank called D360 has received regulatory approval from the Saudi Central Bank (SAMA) becoming third digital bank in KSA. D360 will be established with a capital of SAR 1.65 billion ($440 million) through a consortium of individual and corporate investors, with the Public Investment Fund as one of the key investors. It will be led by Derayah Financial Company.

With the latest addition of D360, there are 35 licensed banks in Saudi Arabia at present, including 11 local banks, three local digital banks, and 21 foreign bank branches. There are also 19 licensed fintech companies that provide payment services, consumer microfinance and electronic insurance brokerage.

UAE M2 crypto exchange partners with Transak for fiat on ramping

UAE M2 crypto exchange partners with Transak for fiat on ramping

Transak, a payments infrastructure provider for digital assets like cryptocurrencies, stablecoins and NFTs, has integrated its solution with M2, UAE regulated crypto exchange. The integrations is the first and only fiat on-ramp provider for a crypto exchange in UAE.

This streamlined integration seeks to lower barriers to market participation, while ensuring strict levels of security and compliance. Through Transak, verified M2 users will be able to conveniently make fiat-to-crypto purchases for 30+ of tokens and cryptocurrencies using their credit and debit cards, M2’S OTC service will continue to be available.

On the platform integration, Sudhu Arumugam, M2’s Chief Product Officer, said, “M2’s partnership with Transak will allow retail investors and first-time crypto entrants access to a variety of cryptocurrencies – they can then put these to work in any of our 20+ Earn products with market leading yields, or explore various trading opportunities via our spot market or futures contracts.”

“By working with Transak on our on-ramp integration, we know M2 users will have access not just to a secure pathway, but a great experience powered by a trusted entity that delivers purchases in real time, and with accurate pricing.”

Carlo de Luca Gabrielli, Global Director of Sales at Transak, commented, “Our collaboration with M2 is about more than just infrastructure – it’s about creating frictionless access to digital assets in one of the fastest-growing markets. As the Middle East embraces clear regulations and the rest of the world follows suit, this partnership empowers users with seamless crypto purchases backed by compliance and security. Together with M2, we are raising the standard for how virtual asset investments should be made – easy, safe, and accessible to all.”

Transak’s fiat-to-crypto on-ramp integration is now live.