Singapore Gulf Bank (SGB) has entered into a strategic partnership with the Cactus Custody platform, owned by Matrixport, to enhance the capabilities for institutional clients in managing fiat funds. This new collaboration will allow large clients to gain 24/7 access to fiat settlements, convenient management of digital assets, and an optimized financial infrastructure.
This is reported by Finway
Integration of Infrastructures and Benefits for Clients
As part of the partnership, SGB will integrate its own infrastructure with the Cactus Custody platform, enabling bank clients to use a single system for managing both digital assets and fiat funds. This approach will help reduce operational costs, increase the speed of payment processing, and expand the capabilities of SGB Net — a platform launched in early May 2025. According to bank representatives, transfers within this system are conducted without fees, available 24/7, and provide access to a full range of financial services.
Market Expansion and Security Assurance
Singapore Gulf Bank positions itself as the first fully licensed digital bank in the MENA region (Middle East and North Africa) with legal registration in Bahrain. Cactus Custody, operating since 2018, specializes in custodial services with enhanced security, combining tools from traditional finance (TradFi) and decentralized finance (DeFi).
“Our partnership with SGB enhances opportunities for working with fiat and custodial services for institutional clients. With advanced infrastructure and a compliance system, clients can manage various types of assets more effectively and coordinate their operations with greater confidence,” said Wendy Jiang, General Manager of Cactus Custody.
It is worth noting that earlier, the Vice Chair of the U.S. Federal Reserve, Randal Quarles, joined the advisory board of SGB, highlighting the bank’s commitment to international expertise and innovation in the financial sector.