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Singapore Gulf Bank Launches Crypto-Focused SGB Net to Tackle Cross-Border Finance Challenges
Singapore Gulf Bank Launches Crypto-Focused SGB Net to Tackle Cross-Border Finance Challenges
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Singapore Gulf Bank (SGB) has unveiled SGB Net, a real-time clearing network aimed at facilitating digital asset transactions for businesses in the Middle East and North Africa (MENA). The initiative, announced on May 1, targets persistent pain points in cross-border finance—settlement delays and exorbitant fees—by enabling 24/7 multi-currency transfers without reliance on SWIFT or traditional banking hours.
The bank’s crypto-friendly stance is further underscored by its plans to acquire a stablecoin payments firm this year, signaling a strategic push into the digital asset sector. SGB Net promises instant fund transfers at reduced costs, positioning itself as a solution for enterprises navigating the complexities of global finance.
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