cryptonews.net
Fireblocks, a platform for secure digital asset custody and payments, announced that Singapore Gulf Bank (SGB) will use its infrastructure to manage digital asset custody and treasury operations. The integration will allow SGB to automate daily treasury workflows, optimize liquidity across multiple accounts, and strengthen security and compliance within its digital asset services.
SGB is a digital wholesale bank regulated by the Central Bank of Bahrain. It was founded by Singapore’s Whampoa Group and is backed by Bahrain’s sovereign wealth fund, Mumtalakat. The bank provides unified solutions for managing both traditional and digital assets, enabling clients to transact seamlessly between fiat and cryptocurrencies. By adopting Fireblocks, SGB aims to enhance operational efficiency while maintaining regulatory compliance.
Through Fireblocks’ Multi-Party Computation (MPC) technology and secure hardware, SGB will gain institutional-grade wallet protection designed to minimize risks related to cyberattacks or human error. The partnership also grants SGB access to the Fireblocks Network, which connects more than 2,400 financial institutions and provides a standardized framework for secure asset transfers and stablecoin transactions.
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