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Digital asset infrastructure provider Aquanow is partnering with SGB, a fully licensed digital bank, to solve one of the biggest headaches for crypto businesses, open a reliable bank account. The collaboration is designed to offer seamless fiat banking services to institutional players in the crypto space.
Bridging the Gap Between Crypto and Fiat
This new alliance will give Aquanow’s global clients, which include exchanges, payment providers, and fintech companies, the ability to easily open USD bank accounts, settle trades, and transfer funds using SGB’s full SWIFT membership and regulated banking framework.
This partnership benefits businesses seeking reliable, compliant infrastructure that integrates digital assets into mainstream financial systems.
“Institutions need more than just access; they need robust, compliant infrastructure to operate at scale. Our partnership with SGB addresses this critical need,” said Phil Sham, CEO & Co-Founder of Aquanow.
The two companies aim to provide a secure and scalable solution for businesses to move assets freely, 24/7, in multiple currencies such as USD, EUR, AED, SAR, BHD, SGD, HKD, and CNH.
SGB’s Role in Global Digital Banking
SGB stands out as the only digital bank in the MENA region that is authorized to onboard clients globally. This is thanks to its powerful backing from Bahrain’s sovereign wealth fund, Mumtalakat, and Singapore’s Whampoa Group.
What’s happening in Bahrain? SGB is part of a bigger trend in the country. Here’s our report on another major Bahraini firm that recently added Bitcoin to its treasury.
SGB’s real-time settlement platform, SGB Net, will integrate with Aquanow’s services to facilitate smooth fiat-to-crypto and crypto-to-fiat conversions. This integration is expected to pave the way for better on-and-off-ramping solutions for digital asset investors.
This move is expected to pave the way for future on-and-off-ramping solutions within SGB’s platform, facilitating easier entry and exit points for digital asset investors.
Expanding Global Access, with Focus on MENA and Asia
The partnership comes as institutional adoption of digital assets continues to grow, particularly in the MENA and Asia regions. These markets have been at the forefront of progressive regulatory frameworks and growing demand for blockchain-based financial services.
Shawn Chan, CEO of SGB, noted the significance of this partnership:
“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.”
As digital assets become an integral part of everyday financial operations, the need for robust, secure, and compliant infrastructure will continue to rise. This partnership between Aquanow and SGB is a crucial step in unlocking a more seamless crypto-friendly banking environment, where institutional players can operate confidently in both traditional and digital finance spaces.
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.
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