Singapore Gulf Bank has unveiled SGB Net, a real-time clearing platform that will revolutionize digital asset trading methods for companies in the Middle East and North Africa region.
According to CoinDoo on the 1st (local time), Singapore Gulf Bank has introduced SGB Net, a real-time clearing platform that will innovate digital asset trading methods for companies in the Middle East and North Africa (MENA) region. This system significantly reduces costs and delays by bypassing the existing SWIFT infrastructure and enabling multi-currency transfers 24/7.
SGB Net is designed for institutions, providing direct access to liquidity, enabling instant conversion between cryptocurrencies and fiat currencies, and offering tools for faster fund management and transaction settlement.
Various participants such as exchanges, OTC desks, stablecoin issuers, and prime brokers are already being integrated into this platform, laying the foundation for a more fluid and connected financial ecosystem.
Through overseas onboarding support, SGB Net provides entry points to global finance for companies in underserved markets, bypassing traditional foreign exchange banking bottlenecks. This approach not only reduces exposure to currency risks but also helps companies navigate unstable geopolitical situations more efficiently.
In the future, SGB plans to launch advanced features such as sub-accounts, off-exchange settlement, and third-party services. These feature enhancements will support sophisticated financial operations related to tokenized assets, cryptocurrency deployment, and fiat currency equivalents, further strengthening the bank's position at the intersection of traditional finance and digital innovation.
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