Singapore Gulf Bank Selects Fireblocks to Power Secure Wallet Infrastructure

Fireblocks, an enterprise platform for secure digital asset custody, settlement, trading operations, and stablecoin payments, today announced that Singapore Gulf Bank (SGB), a fully licensed digital wholesale bank regulated by the Central Bank of Bahrain, will leverage Fireblocks’ digital asset infrastructure to support secure treasury management and digital asset custody, including executing day-to-day treasury operations with automated workflows, as well as optimizing liquidity across multiple accounts and venues. Over time, SGB plans to expand its digital asset capabilities by using Fireblocks for on- and off ramps and stablecoin issuance, unlocking additional opportunities for clients in the markets it services.

SGB––founded by the privately-held Singaporean investment firm, Whampoa Group, and backed by the sovereign wealth fund of the Kingdom of Bahrain, Mumtalakat––supports global corporate and retail clients by bridging traditional financial services and the rapidly growing digital asset economy through a unified banking solution to manage conventional and digital assets, as well as support seamless transactions between fiat and cryptocurrencies. It sought a trusted infrastructure provider capable of delivering secure digital asset solutions while meeting rigorous regulatory requirements. 

By integrating Fireblocks, SGB gains access to a secure, scalable platform, allowing it to launch and grow its digital asset offerings, simplify operations, strengthen compliance, and deliver a seamless experience for its crypto-native clients––reinforcing its role as a vital link between mainstream financial services and the rapidly advancing digital asset economy.

SGB clients will benefit from institutional-grade wallet protection: Fireblocks’ digital asset platform combines Multi-Party Computation (MPC) cryptography with secure hardware to provide multi-layered, battle-tested security. This safeguards against attacks, collusion, and human error, enabling SGB to scale its digital asset operations securely.

Shawn Chan, CEO of Singapore Gulf Bank, said, “We [Singapore Gulf Bank] exist to make regulated banking work for the digital asset economy. By using Fireblocks, we’re able to automate processes, reduce operational risk, and most importantly offer clients faster, safer access to digital asset services like crypto treasury, on and off ramps, and stablecoin transactions. This helps in supporting trading firms, exchanges, and payment providers with the type of banking experience they need to operate in a regulated environment.”

Through the integration, SGB will also gain access to the industry’s leading digital asset network, the Fireblocks Network. Trusted by 2,400 fintechs, retail apps, PSPs, banks, exchanges and institutional traders, and solving some of the biggest challenges in on-chain asset transfer, the Fireblocks Network is the global standard for secure stablecoin payment orchestration and efficient crypto trading, providing SGB with seamless connectivity through one interoperable network. 

SGB was also named as part of the initial set of providers supporting the launch of the Fireblocks Network for Payments, which enables institutions to orchestrate global payment flows, such as cross-border treasury, payouts, remittances, and merchant settlements with complete control, across fiat and blockchain rails.

“SGB is enhancing options in banking by providing secure, reliable access to financial services for digital asset businesses,” said Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks. “With Fireblocks’ enterprise-grade infrastructure, SGB is well positioned to streamline operations, mitigate risk, as well as enable real-time on-chain financial services as demand accelerates.”

This announcement follows the launch of SGB Net in May 2025, its real-time, multi-currency clearing network designed to meet the operational needs of digital asset firms. By onboarding the full spectrum of participants across the digital economy, from crypto exchanges and stablecoin issuers to market makers and OTC desks, both Fireblocks and SGB are creating a more integrated financial network and enabling institutions to access digital assets with greater security, efficiency, and confidence.