Singapore Gulf Bank Joins BNY Correspondent Banking Network to Strengthen USD Clearing
MANAMA, Bahrain, April 7, 2026 - Singapore Gulf Bank (SGB), a fully licensed digital wholesale bank supported by Whampoa Group and Mumtalakat, today announced a partnership with BNY (NYSE: BK), a global financial services company, joining its correspondent banking network and onboarding to its Fixed Income Brokerage platform.
By joining BNY's correspondent banking network, SGB adds a leading U.S. dollar clearing provider to its expanding network of correspondent banking and payment infrastructure. The relationship strengthens SGB's ability to support real-time, 24/7 settlement for global corporates, while reinforcing its strategy of enabling a trusted global banking infrastructure with modern, always-on settlement capabilities and payments resilience.
BNY's Fixed Income Brokerage platform enables the trading of money market funds and U.S. Treasury bills, allowing SGB's clients - including crypto-native clients - to access U.S. government securities and allocate digital-asset capital into traditional fixed income instruments. BNY now serves as an institutional vault and trading hub for investing funds into secure assets like U.S. Treasuries.
This announcement marks the latest milestone for SGB. The bank launched its corporate banking service in late 2024 and introduced SGB Net in May 2025 to enable real-time, multi-currency settlement. SGB Net is already integrated with J.P. Morgan's Wire 365 to provide rapid, 24/7 USD settlement and clearing. The partnership with BNY supports SGB's strategy of building an efficient, compliant banking stack that integrates both digital and traditional currencies.
About Singapore Gulf Bank
Singapore Gulf Bank (SGB) is a fully licensed digital wholesale bank that bridges traditional finance and the digital asset economy. Backed by Whampoa Group and Mumtalakat, the bank provides banking, digital asset management and stablecoin settlement services for businesses and individuals worldwide. SGB is regulated by the Central Bank of Bahrain. For more information, visit www.sgb.com.
About BNY
BNY is a global financial services company, managing $57.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management as of September 30, 2025. BNY serves over 90% of Fortune 100 companies and nearly all of the top 100 banks globally. The Bank of New York Mellon Corporation (NYSE: BK) is headquartered in New York City.
Source: PRNewswire
