Aquanow, a digital asset infrastructure provider, has partnered with SGB, a regulated bank in Bahrain, to provide secure banking services for cryptocurrency clients.
Regulated Banking for Digital Assets
Aquanow has entered into an agreement with SGB, a fully licensed digital bank regulated by the Central Bank of Bahrain. The deal provides banking access for digital asset participants, including opening USD accounts and transactions that will be settled in real-time through SWIFT-linked systems.
Real-Time Settlements and 24/7 Transfers
The partnership integrates Aquanow’s platform with SGB’s regulated banking network and settlement system, SGB Net. This will allow instant on/off-ramps between crypto and fiat. Exchanges, payment providers, and fintech companies are expected to benefit from faster liquidity and fewer operational delays.
Market Momentum in MENA and Asia
This agreement comes against the backdrop of growing institutional interest in digital assets in MENA and Asia, where progressive regulatory frameworks are in place. Phil Sham, CEO and co-founder of Aquanow, stated that the partnership aims to remove infrastructure barriers and create a more crypto-friendly banking environment.
In summary, the partnership between Aquanow and SGB aims to build infrastructure for a borderless financial system by combining compliance, real-time settlements, and global reach.
