The launch of such a service speaks to how blockchain – aka distributed ledger technology – is continuing to make its presence felt in the banking and wealth management world.

Bahrain-regulated Singapore Gulf Bank, has created a bank-operated network that brings the US dollar and stablecoins together in one regulated platform.

SGB said the development enables near real-time settlement and simpler treasury workflows, and is an evolution of SGB Net, the bank’s proprietary real-time clearing network.

The move is an example of how the world of stablecoins – a form of cryptocurrency pegged to fiat currencies such as the dollar or a reserve asset such as gold – is continuing to be part of the banking and wealth management conversation. 

SGB said that its SGB Net platform processes more than $2 billion in monthly fiat transaction volume and is growing at an average month-on-month rate of 92.64 per cent. 

“The new upgrade extends the network’s real-time, multi-currency clearing capabilities into the stablecoin domain, creating a unified, regulated environment for managing both fiat and digital assets,” SGB said in a statement. 

Clients can mint, convert, hold, and trade stablecoins on blockchains such as Solana, Ethereum and Arbitrum across the SGB Net participants.

“Our ambition is to become the one bank for all of finance,” Shawn Chan, CEO of SGB, said. “Stablecoins have become the working capital of the digital asset economy yet managing them remains unnecessarily complex.”

The bank introduced its corporate banking services in late 2024, followed by the launch of SGB Net in May 2025. SGB is backed by Whampoa Group and Mumtalakat and regulated by the Central Bank of Bahrain.