Singapore Gulf Bank Launches Clearing Network for Digital Asset Firms

Singapore Gulf Bank, a digital bank licensed by the Central Bank of Bahrain, has launched SGB Net, a real-time currency clearing network designed to support digital asset firms. Launched on May 1st, SGB Net enables zero-fee transfers at any time and aims to bypass traditional financial infrastructure limitations, such as the SWIFT network. The platform offers API-powered instant fiat-to-crypto on-and-off ramp services and connects a range of participants in the global digital economy, including crypto exchanges, stablecoin issuers, market makers, OTC desks, and prime brokers.