Singapore Gulf Bank Partners with Fireblocks for Digital

Singapore Gulf Bank (SGB), a licensed digital wholesale bank regulated by the Central Bank of Bahrain, has announced that it has partnered with Fireblocks to support its digital asset infrastructure for treasury management and custody.

The bank believes this partnership will establish it as one of the few regulated banks in the Middle East connecting traditional finance with the rapidly growing digital asset economy.

Building Infrastructure for Regulated Digital Banking

Founded by the Singapore-based Whampoa Group and backed by Bahrain's sovereign wealth fund, Mumtalakat, Singapore Gulf Bank provides both corporate and retail clients with secure, compliant access to digital assets.

The partnership with Fireblocks allows SGB to integrate automated workflows for treasury operations, liquidity optimization, and digital asset custody—key components of safely increasing the bank's exposure to crypto and tokenized assets.

In the future, SGB said it plans to use Fireblocks' platform for on- and off-ramps, stablecoin issuance, and other blockchain-based services, helping customers transfer between fiat and digital assets more efficiently.

Institutional-Level Security for Digital Assets

By adopting Fireblocks' enterprise-level infrastructure, SGB gains access to a secure, scalable system based on multi-party computation (MPC) cryptography and secure hardware modules.

This technology protects client wallets from external attacks, insider threats, and operational errors—a key advantage for banks entering the digital asset sector.

"SGB exists to streamline regulated banking for the digital asset economy," said Sean Chan, CEO of Singapore Gulf Bank. "Using Fireblocks, we can automate processes, reduce operational risk, and provide clients with fast and secure access to services such as crypto treasury, on- and off-ramps, and stablecoin transactions."

Joining the Global Fireblocks Network

The Fireblocks network facilitates secure on-chain asset transfers, stablecoin payments, and global settlements across blockchain and fiat rails, giving SGB clients streamlined access to institutional liquidity and cross-border transaction capabilities.

"With Fireblocks' enterprise-grade infrastructure, SGB is well-positioned to streamline operations, reduce risk, and enable real-time on-chain financial services to meet growing demand," said Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks.

Accelerating the Next Phase of Digital Finance

This announcement follows the launch of SGB Net in May 2025, a real-time, multi-currency clearing network for digital asset firms.