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.

Bahrain Singapore Gulf Bank to offer digital asset custody services

Bahrain Singapore Gulf Bank to offer digital asset custody services

Operating under full regulatory approval from the Central Bank of Bahrain, Singapore Gulf Bank (SGB) has launched in Bahrain to offer comprehensive digital banking services to corporate customers in the digital economy to manage their traditional financial and digital assets on a single platform.

Global clients can onboard through Singapore Gulf Bank’s remote digital on-boarding solutions. SGB will extend its digital banking services to individual clients by the end of the year.

In addition to regular corporate banking services, SGB will provide a real-time settlement network, digital assets custody and intuitive trading solutions, all underpinned by robust AML/KYC measures. As per the announcement this enables businesses to manage their finances flexibly, whether they are traditional or digital assets – facilitating their participation in the digital economy.

Edmund Lee, Founding Chairman of the Board of SGB, stated, “We’re building the foundation for a new era of global finance where traditional and digital worlds converge to enable businesses to operate anytime and anywhere.”

H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain Economic Development Board, said, “The launch of SGB marks a pivotal moment in deepening financial connectivity between MENA and Asian markets through Bahrain. As the digital economy continues to grow, our kingdom will serve as a gateway connecting Asian enterprises with opportunities across traditional and digital financial markets. SGB is a testament to Bahrain’s pro-innovation environment and our ability to attract and anchor ambitious global enterprises.”

H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, commented: “SGB’s launch demonstrates Bahrain’s commitment to fostering innovation in financial services while upholding the highest regulatory standards. With SGB, Bahrain will serve as a crucial nexus that connects businesses around the world and bridges traditional and digital financial services.”

SGB is pioneering a new era of banking where everyone can easily access and manage digital assets alongside traditional assets within one integrated network. Underpinned by its compliance-first approach, SGB will serve as a vital link between mainstream financial services and the rapidly advancing digital asset economy, empowering the next billion users with access to the future of finance.

In early October SINGAPORE Gulf Bank (SGB) appointed former Goldman Sachs executive Ali AlShamma as chief financial officer and ex-Sygnum executive Elaine Leong as chief operating officer. These two hires reinforce the mission of SGB to provide frictionless interaction between digital and traditional finance, said the digital bank.