Aquanow has entered into a strategic partnership with SGB, a digital bank licensed and regulated by the Central Bank of Bahrain (CBB), to enhance fiat banking access for institutions and enterprises operating in the digital asset space.
The collaboration will allow Aquanow’s global client base – including payment providers, exchanges, OTC desks, neobanks and FinTech firms – to open USD bank accounts, move funds, and settle trades through SGB’s full SWIFT membership.
Supported by Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s Whampoa Group, SGB is the only bank in the MENA region with approval to digitally onboard clients worldwide, it said.
By combining Aquanow’s digital asset infrastructure with SGB’s regulated banking capabilities, the partnership will enable seamless asset transfers in key global currencies including USD, AED, SAR, BHD, SGD, EUR, HKD and CNH. The initiative also integrates Aquanow’s platform with SGB’s real-time settlement network, SGB Net, to streamline on and off-ramping between fiat and crypto.
Aquanow CEO and co-founder Phil Sham said, “As digital assets become part of everyday financial operations, institutions need more than access – they need reliable, compliant infrastructure to operate at scale.
“Our 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.”
SGB CEO Shawn Chan said, “Our partnership with Aquanow marks a significant step forward in bridging digital assets with regulated banking infrastructure. By combining Aquanow’s institutional-grade platform with SGB’s banking capabilities and global onboarding reach, we’re facilitating seamless access to fiat for digital asset users.”
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