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Singapore Gulf Bank (SGB) launched their personal banking services, notably allowing integrated crypto transactions alongside advanced foreign exchange (forex) services. With this expansion , SGB aims to bridge traditional banking with digital asset finance, catering to customers seeking options for global transactions. The bank’s move aligns with the latest trend where established banks incorporate blockchain technology to meet their client’ financial demands. The new SGB personal banking offering includes features like global wire transfers, multi-currency foreign exchange capabilities, and payment channels utilizing cryptocurrencies, according to the bank’s announcement. Customers can now use SGB-issued payment cards and transact in multiple fiat currencies as well as selected digital currencies through the bank’s platform. This initiative signals SGB’s intent to compete directly in the cross-border payments arena, positioning itself against both established fintech players like Revolut and Wirex, and specialized Swiss digital asset banks such as SEBA and Sygnum. Related: Singapore’s Whampoa Group Plans Digital Bank in Bahrain SGB is backed by Bahrain’s sovereign wealth fund, Mumtalakat, and Singapore’s private investment firm, Whampoa Group. Such a strong backing adds credibility for the bank as it expands within the competitive global banking sector. SGB’s launch comes as the cryptocurrency sector gains significant traction within Bahrain, now making up 7% of the market . Related: Former JPMorgan Regional Head Joins Bahrain’s Digital Bank The Central Bank of Bahrain (CBB) first issued its detailed Crypto-Assets Module regulations back in 2019. Amended further in 2023, the CBB’s module addressed subsequent market developments, strengthened rules around investor protection, and formally included regulations covering digital token offerings within its supervisory scope. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Mastercard builds blockchain network to connect TradFi and crypto Global credit card company Mastercard is developing a “Multi-Token Network” to enable smooth digital asset transfers among consumers, merchants and financial institutions. Raj Dhamodharan, executive vice president

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Ethereum whale sends $10.96M to Binance, faces multi-million dollar loss On-chain analyst The Data Nerd reported on X that around nine hours ago, a whale wallet beginning with 0xAaf deposited 6,131 $ETH (valued at approximately $10.96 million) to Binance Exchange. With an

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