Fireblocks, a platform for secure digital asset storage and payments, announced that Singapore Gulf Bank (SGB) will use its infrastructure to manage digital asset storage and treasury operations. This integration will enable SGB to automate daily financial workflows, optimize liquidity across multiple accounts, and enhance security and compliance within 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 backed by Bahrain’s sovereign wealth fund Mumtalakat. The bank offers integrated solutions for managing both traditional and digital assets, allowing customers to seamlessly trade between fiat and cryptocurrencies. With Fireblock, SGB aims to improve operational efficiency while maintaining regulatory compliance.
Through Fireblocks’ Multi-Party Computation (MPC) technology and secure hardware, SGB gains institutional-grade wallet protection designed to minimize risks associated with cyber-attacks and human error. The partnership also grants SGB access to the Fireblocks network, which connects over 2,400 financial institutions and provides a standardized framework for secure asset transfers and stablecoin transactions.
Image: Freepik
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