Aquanow, a global digital asset infrastructure provider, is teaming up with SGB, a fully licensed digital bank regulated by the Central Bank of Bahrain (CBB), to make fiat banking services more accessible to institutional and enterprise participants in the digital asset space.
Through the partnership, the Aquanow global client base, including exchanges, payment providers, OTC desks, neobanks, and fintechs, can now open USD bank accounts, settle trades, and move funds freely, by leveraging SGBâs SWIFT membership and regulatory standing. This move looks to enable businesses to move assets 24/7, in major currencies such as USD, AED, SAR, BHD, SGD, EUR, HKD, and CNH.
The partnership will also integrate Aquanowâs globally deployed digital asset services with SGBâs regulated banking network and real-time settlement platform, SGB Net, to enable seamless on and off-ramping between crypto and fiat.
Backed by Bahrainâs sovereign wealth fund Mumtalakat and Singaporeâs Whampoa Group, SGB is currently the only bank in MENA authorised to digitally onboard clients globally.
âAs digital assets become part of everyday financial operations, institutions need more than access â they need reliable, compliant infrastructure to operate at scale,â explained Phil Sham, CEO and co-founder of Aquanow. âOur partnership with SGB addresses that head-on. By integrating with a crypto-regulated institution like SGB, we will enable a more crypto-friendly banking environment for various stakeholders. This is a critical step in closing infrastructure gaps and unlocking a more seamless, borderless financial system for our clients.â
Bringing fiat and crypto closerÂ
With millions of customers between them, Aquanow and SGB say they plan to make the present and future of money accessible by enabling secure solutions for fiat access, crypto settlements, and 24/7 cross-border payments.
Shawn Chan, CEO of SGB, commented: âOur partnership with Aquanow marks a significant step forward in bridging digital assets with regulated banking infrastructure. By combining Aquanowâs institutional-grade platform with SGBâs banking capabilities and global onboarding reach, weâre facilitating seamless access to fiat for digital asset users.â
This partnership comes amid rising institutional adoption of digital assets, with markets in MENA and Asia leading the charge due to progressive regulatory frameworks and a growing appetite for blockchain-based financial services. The integration of Aquanow and SGBâs infrastructure sets the stage for future user access to fiat-crypto conversions directly within SGBâs platform, enhancing the utility of bank accounts for retail and institutional users.
The post Aquanow Teams up With SGB to Ease Access to Digital Asset Fiat Banking Services appeared first on The Fintech Times.
