Digital wholesale bank Singapore Gulf Bank has announced its partnership with Fireblocks in order to power secure wallet infrastructure for customers and clients.
Following this announcement, Singapore Gulf Bank will leverage Fireblocks' digital asset infrastructure in order to support secure treasury management and digital asset custody, including executing day-to-day treasury operations with automated workflows. This will take place while also maintaining a focus on optimising liquidity across multiple accounts and venues.
In addition, over time, SGB is planning to expand its digital asset capabilities by using Fireblocks for on- and off-ramps and stablecoin issuance, as well as unlock additional opportunities for clients in the markets it serves.
More information on the Singapore Gulf Bank x Fireblocks partnership
According to the official press release, through the process of integrating Fireblocks, SGB is set to gain access to a secure, scalable platform, while also launching and growing its digital asset offerings, simplifying operations, strengthening compliance, and delivering an optimised experience for its crypto-native clients. This process is expected to continue its development as a trusted link between mainstream financial services and the rapidly advancing digital asset economy.
At the same time, SGB clients will be given the possibility to benefit from improved wallet protection, as Fireblocks' digital asset platform combines Multi-Party Computation (MPC) cryptography with secure hardware in order to provide multi-layered security. This strategy will safeguard against attacks, collusion, and human error, while enabling SGB to scale its digital asset operations securely as well.
Through the integration, Singapore Gulf Bank will gain access to the Fireblocks Network, representing a global standard for secure stablecoin payment orchestration and efficient crypto trading, while also providing SGB with secure and efficient connectivity through one interoperable network. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
