Singapore Gulf Bank (SGB) has entered into a strategic partnership with the Cactus Custody platform, owned by Matrixport. This will allow the bank’s institutional clients to conduct fiat transactions at any time of the day.
This is reported by Business • Media
Integration of Infrastructures for Client Convenience
As part of the collaboration, SGB will integrate its own infrastructure with the Cactus Custody system. This will enable banking clients to manage digital assets and fiat funds through a single platform. This solution aims to optimize costs and accelerate the payment processing time.
As noted by SGB, the new agreement will enhance the functionality of the SGB Net platform. This system went live in early May 2025 and allows for commission-free transfers 24/7, offering a full range of financial services for users.
Benefits for Institutional Clients
SGB emphasizes its unique position as the first fully licensed digital bank in the MENA region (Middle East and North Africa), registered in Bahrain. The Cactus Custody partnership service, operational since 2018, provides custodial services with access to DeFi solutions while maintaining a high level of security characteristic of the traditional financial sector.
“Our partnership with SGB enhances the capabilities for working with fiat and custodial services for institutional clients. With advanced infrastructure and compliance systems, clients can manage various types of assets more effectively and coordinate their operations with greater confidence,” said Wendy Jiang, General Manager of Cactus Custody.
Previously, Singapore Gulf Bank established an advisory board that includes Randal Quarles, Vice Chair of the U.S. Federal Reserve System.