- Fireblocks’ Multi-Party Computation cryptography will protect SGB’s digital asset operations against attacks and human error.
- SGB is backed by Singapore’s Whampoa Group and Mumtalakat, Bahrain’s sovereign wealth fund.
- The bank gains access to Fireblocks Network’s 2,400 institutional clients and will support the Fireblocks Network for Payments.
Singapore Gulf Bank announced on Nov. 4, 2025, that it selected Fireblocks to power its digital asset infrastructure. The digital wholesale bank, regulated by the Central Bank of Bahrain, will use the platform for treasury management operations, digital asset custody, and automated workflows. SGB plans to expand its services to include on- and off-ramps and stablecoin issuance over time.
The bank was founded by Whampoa Group, a privately-held Singaporean investment firm, and backed by Mumtalakat, the Kingdom of Bahrain’s sovereign wealth fund, according to the Nov. 4 announcement shared with CryptoNewsNet. SGB provides services to global corporate and retail clients by connecting traditional financial services with digital asset capabilities through a unified banking solution for managing both conventional and digital assets.
Bahrain-Regulated Bank Expands Digital Asset Services
The integration enables SGB to execute day-to-day treasury operations through automated processes, optimizing liquidity across multiple accounts and trading venues. The platform provides institutional-grade wallet protection for the bank’s digital asset operations. Fireblocks’ infrastructure combines secure hardware with cryptographic security measures, enabling SGB to scale its operations while maintaining regulatory compliance standards.
SGB’s CEO Shawn Chan stated that the bank exists to make regulated banking functional for the digital asset economy. By implementing Fireblocks’ platform, the bank can automate processes, reduce operational risk, and provide clients with faster access to services including crypto treasury management, on- and off-ramps, and stablecoin transactions. These capabilities support trading firms, exchanges, and payment providers requiring banking services in a regulated environment.
MPC Technology Provides Institutional-Grade Security
Fireblocks’ platform employs Multi-Party Computation cryptography combined with secure hardware to create a multi-layered security architecture. This technology protects against external attacks, internal collusion attempts, and human error. The security framework has been tested across thousands of institutional deployments, providing SGB with battle-tested infrastructure as it expands its digital asset custody and treasury management operations.
Integration With Fireblocks Network
The partnership grants SGB access to the Fireblocks Network, which connects 2,400 institutions, including fintechs, retail applications, payment service providers, banks, exchanges, and institutional traders. SGB was designated as part of the initial provider group supporting the Fireblocks Network for Payments launch. This network enables institutions to manage global payment flows, including cross-border treasury operations, payouts, remittances, and merchant settlements across both fiat and blockchain systems.
The announcement follows SGB’s May 2025 launch of SGB Net, a real-time multi-currency clearing network designed for digital asset firms. Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks, stated that SGB is positioned to streamline operations and enable real-time on-chain financial services as market demand increases.
