New Banking Services: Integrating Crypto Assets and Compliance Framework

In recent years, the global digital asset market has rapidly expanded. As of early April 2025, the total market value of global Crypto Assets, even after a significant drop, has decreased to $2.63 trillion, making it an important component of the global financial market.

However, traditional banks have a significant gap in meeting the digital asset needs of customers. According to a survey, less than 20% of European banks offer digital asset services, while over 40% of commercial investors already hold crypto assets. Several international banks are accelerating their embrace of blockchain technology to achieve round-the-clock real-time settlement and improve cost efficiency.

Against this backdrop, Singapore Gulf Bank (, abbreviated as SGB ), is attempting to break this situation. As the first licensed bank in the Middle East and North Africa region to offer fully remote account opening services, SGB aims to provide new banking solutions for crypto users and digital nomads overlooked by the traditional financial system through crypto-friendly services coupled with strict compliance regulation.

The Establishment and Background of the Singapore Gulf Bank

The Gulf Bank of Singapore was established at the end of 2023 and is a digital bank set up in Bahrain. The bank was initiated by the Huangpu Group of Singapore, which is an investment company active in the technology sector.

SGB received investment from the Sovereign Wealth Fund of the Kingdom of Bahrain shortly after its establishment, becoming a new benchmark for financial technology service innovation in the Kingdom of Bahrain and the Gulf region. In November 2024, SGB began offering corporate banking services to the global digital economy, becoming the first licensed bank in Bahrain to provide comprehensive Crypto Assets compatible banking services.

In April of this year, SGB expanded its services to individual clients, officially launching personal banking services. As the first and only regulated bank in the Middle East and North Africa region to provide fully remote digital account opening services for global investors, innovators, and institutions, SGB aims to offer remote account opening and integrated banking solutions for traditional and digital assets to millions of individuals worldwide.

Break Through the Limitations of Traditional Banks

Under the comprehensive regulation of the Central Bank of Bahrain, SGB offers global remote account opening services, allowing global investors, innovators, and small enterprises to complete account opening without having to visit Bahrain, and utilize its settlement network for cross-border payments and settlements. This not only greatly lowers the threshold for account opening but also opens new opportunities for user groups who are unable to enjoy quality financial services due to geographical restrictions.

SGB aims to break through the limitations of traditional banks in the digital asset service field by pioneering crypto-friendly bank accounts. This account not only supports customers in depositing salaries via fiat or crypto assets, but also features multiple functionalities such as payments, transfers, and investments. Through deep integration with top licensed trading platforms and exchanges, SGB enables instant and secure seamless conversion between fiat and crypto assets, significantly enhancing the efficiency and convenience of fund circulation.

In terms of cross-border payment and foreign exchange demand, SGB combines the multiple advantages of wire transfers, proprietary bank cards, and Crypto Assets payment channels to provide global users with low-cost, high-efficiency international remittance solutions. Whether for overseas study, business travel, or daily cross-border transactions, SGB can provide flexible and convenient financial services, effectively addressing the complexity issues faced by traditional banks in cross-border payments and settlements.

SGB also opens up diversified investment channels for clients, including high-yield savings and time deposit accounts (with an annual interest rate of up to 4%), as well as products with unique investment opportunities in Asia and the Middle East and North Africa, providing clients with more diversified asset allocation options.

Through its own settlement network, SGB has achieved 24/7 real-time payment services. This not only applies to fast transfers between individual users but also meets the demand for high-frequency capital flows between institutions. Its fee-free instant transfer service significantly enhances the overall efficiency of financial transactions and improves user experience.

Practical Exploration of Building a "New Type of Bank" Model

SGB focuses on differentiated competition and crypto-friendly banking services, aiming to build an ecosystem that encompasses the trading, transfer, payment, and storage of digital assets and cash.

In building this new banking model, SGB fully relies on advanced digital technology and AI technology. By constructing an AI-driven risk control system, the bank can achieve real-time monitoring of customer behavior, reducing fraud risk. At the same time, through automated identity verification processes, SGB has greatly improved account opening efficiency and ensured strict compliance management in various services. In this way, SGB not only achieves a seamless integration of traditional banking services and Crypto Assets services but also provides a unified and convenient banking service entry point for global users.

SGB is clearly positioned for native users of Crypto Assets and customers interested in Crypto Assets, and while ensuring that traditional financial needs are met, it focuses on creating a comprehensive ecosystem for digital asset services.

With the continuous expansion of the global digital asset market, countries are increasingly tightening regulations on Crypto Assets trading. SGB adheres to the principles of legal compliance in its new banking model, especially in relation to encryption business. Under the comprehensive supervision of the Central Bank of Bahrain, SGB strictly follows international finance and regional compliance standards in the processes of account opening, trading, and asset management, ensuring that all aspects involving fiat currency and Crypto Assets transactions meet requirements such as Anti-Money Laundering (AML) and Know Your Customer (KYC).

Can Innovative Models Lead the New Trends in Digital Banking

Currently, with its core competencies in crypto-friendly, cross-border payments, and strict compliance, SGB is gradually revealing its potential and becoming an important new force in the field of new-type banking. In the face of challenges from technology, regulation, and the market, the bank provides global users with safe, convenient, and diversified financial solutions through differentiated strategies and refined management. Its innovative model offers a brand new financial choice for global individual users and will continue to be tested by the market and time.