Singapore Gulf Bank taps Standard Chartered for digital asset payment corridors

Singapore Gulf Bank has entered a strategic banking partnership with Standard Chartered to strengthen cross-border settlement and multi-currency payment services across emerging digital asset markets.

According to a release shared with crypto.news on Tuesday, the agreement expands the bank’s correspondent banking network and improves payment routing in regions where digital asset activity has been growing quickly, particularly across the Middle East and Asia. Clients operating in those corridors are expected to gain faster settlement and reduced transaction friction through Standard Chartered’s clearing infrastructure.

Speaking on the partnership, Singapore Gulf Bank Chief Executive Officer Shawn Chan said businesses in emerging markets still face delays caused by layered intermediary banking systems. Chan stated that the collaboration with Standard Chartered would help remove those bottlenecks while supporting infrastructure tied to the digital asset economy.

Within the arrangement, Standard Chartered will provide correspondent banking and clearing support through its global network. Karine Zakhour, Head of Banks, Brokers and Dealers at Standard Chartered MENA, said payment activity across high-growth corridors has continued accelerating while financial infrastructure adapts to meet settlement demand in real time.

Operating under a license from the Central Bank of Bahrain, Singapore Gulf Bank has been expanding services tied to stablecoins and digital assets over the past two years. Late last year, the bank rolled out 24/7 payment capabilities after introducing SGB Net, its proprietary real-time multi-currency settlement platform for digital asset firms.

Earlier this year, Singapore Gulf Bank introduced a regulated platform allowing institutions to mint, convert, trade, and hold stablecoins such as USDC and USDT across networks including Ethereum, Solana, and Arbitrum. At the time, the bank said SGB Net was already processing more than $2 billion in monthly fiat transaction volume.

Back in November 2025, the bank partnered with digital asset infrastructure provider Fireblocks to support custody and treasury management operations. Singapore Gulf Bank stated then that the integration would help automate treasury functions and reduce operational risks tied to digital asset handling.

Additional momentum around regulated stablecoin infrastructure has also emerged across Asia in recent months. In Hong Kong, the Hong Kong Monetary Authority granted its first stablecoin issuer licenses in April to HSBC and Anchorpoint Financial, a venture backed by Standard Chartered, Animoca Brands, and Hong Kong Telecommunications.

Under Hong Kong’s licensing framework, approved issuers are required to maintain reserve backing, redemption guarantees, governance controls, and anti-money laundering compliance standards. The regime took effect in August 2025 as regulators in the region moved to establish formal oversight for stablecoin issuance and settlement services.