Bahrain’s First Regulated Bank SGB Unveils Comprehensive Crypto-Compatible Services
Singapore Gulf Bank (SGB), a digital bank supported by Bahrain’s sovereign wealth fund Mumtalakat and investment firm Whampoa Group, has launched its corporate banking services.
With full regulatory approval from the Central Bank of Bahrain, SGB offers global corporate clients a range of digital banking solutions for managing both traditional financial assets and digital assets seamlessly on a single platform.
Clients worldwide can access SGB’s services via its digital onboarding process. By year-end, the bank also plans to introduce services for individual clients.
In addition to standard corporate banking, SGB provides advanced features like a real-time settlement network, digital asset custody, and trading tools—built with rigorous anti-money laundering (AML) and know-your-customer (KYC) protocols. These services enable businesses to flexibly manage traditional and digital finances, supporting their growth in the expanding digital economy.
Edmund Lee, Founding Chairman of SGB, highlighted the bank’s innovative role: “We’re laying the groundwork for a new era in global finance, where traditional and digital financial worlds merge, empowering businesses to operate seamlessly.”
Bahrain officials emphasized the significance of SGB’s launch for regional financial connectivity. H.E. Noor bint Ali Alkhulaif, Bahrain’s Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board, noted, “The launch of SGB is a landmark moment, deepening financial ties between MENA and Asia. Bahrain serves as a gateway for Asian enterprises to access opportunities in both traditional and digital financial markets.”
Moreover, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, echoed this sentiment, affirming Bahrain’s commitment to innovation while maintaining regulatory standards: “With SGB, Bahrain strengthens its position as a global hub, connecting businesses and bridging traditional and digital finance.”
SGB’s entry signals a shift towards integrated finance, empowering businesses and paving the way for the next generation of users to access digital and traditional banking within a unified network.
Through its compliance-driven approach, SGB aims to link established financial systems with the rapidly evolving digital asset space, supporting a more inclusive global economy.
