Singapore Gulf Bank’s Crypto Gambit: SGB Net Cuts Through Traditional Finance Red Tape

Another legacy bank dips its toes into crypto—this time with a ’groundbreaking’ blockchain network. Because what finance really needed was another proprietary settlement layer.

SGB Net promises instant cross-border transactions while sidestepping SWIFT’s Jurassic-era delays. The pitch? A tokenized corridor for institutional players tired of waiting 3 business days to move money.

Watch as traditional finance reinvents Bitcoin’s original use case—but with KYC forms and a 2% transaction fee. Progress!

SGB Net

SGB Net allows round-the-clock transfers in multiple currencies without relying on the SWIFT network or traditional banking hours. This means businesses can send and receive funds instantly, with lower costs and fewer delays.

According to the bank, SGB Net enhances capital efficiency by offering direct access to institutional-grade liquidity. It also supports instant fiat and crypto conversions, allowing its users to operate quickly, flexibly, and confidently in volatile markets.

SGB Net is onboarding various market participants, including crypto exchanges, stablecoin issuers, over-the-counter (OTC) desks, market makers, and prime brokers. This diverse network is designed to simplify the movement of digital assets and create an interconnected ecosystem of financial players.

Beyond transaction processing, the platform offers real-world financial tools for corporate users. Businesses can automate payments, settle trades instantly, and manage treasury operations more efficiently. The bank also works with liquidity partners to deliver institutional-level OTC trading with same-day fiat settlements.

Meanwhile, SGB said the platform supports underserved markets through its offshore onboarding framework, allowing clients to expand into regions with limited banking access.

The bank also noted that SGB Net can help mitigate the current global market uncertainty by bypassing traditional correspondent banking networks and reducing foreign exchange costs. This way, the clearing network can improve cash Flow and lower geopolitical risks.

SGB plans to introduce advanced services such as sub-accounts, off-exchange settlement, and tri-party solutions. These will support institutional workflows, including crypto deployment, tokenization, and fiat-equivalent management.