Singapore Gulf Bank (SGB) has unveiled SGB Net, a real-time clearing platform aimed at transforming how businesses in the MENA region handle digital asset transactions.
The system enables 24/7 transfers across multiple currencies—bypassing traditional SWIFT infrastructure and cutting down on both costs and delays.
SGB Net is tailored for institutional use, providing direct access to liquidity, instant crypto-fiat conversions, and the tools needed for faster treasury operations and trade settlement.
Participants already integrating into the platform include exchanges, OTC desks, stablecoin issuers, and prime brokers—laying the groundwork for a more fluid and connected financial ecosystem.
With support for offshore onboarding, the platform also offers businesses in underserved markets an entry point into global finance, all while sidestepping conventional correspondent banking bottlenecks. This approach not only reduces exposure to currency risk but helps companies navigate volatile geopolitical conditions more efficiently.
Looking ahead, SGB plans to roll out advanced features such as sub-accounts, off-exchange settlements, and tri-party services. These enhancements will cater to sophisticated financial operations involving tokenized assets, crypto deployment, and fiat-stable equivalents—further positioning the bank at the intersection of traditional finance and digital innovation.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/singapore-bank-launches-24-7-digital-asset-clearing-network/