Dubai, UAE | August 12, 2025 – Aquanow, a leading global digital asset infrastructure provider, has entered into a strategic partnership with SGB, a fully licensed digital bank regulated by the Central Bank of Bahrain (CBB), to make fiat banking services more accessible to institutional and enterprise participants in the digital asset space.
Backed by Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s Whampoa Group, SGB is the only bank in MENA authorized to digitally onboard clients globally.
Under the partnership, Aquanow’s global client base – including exchanges, payment providers, OTC desks, neobanks, and fintechs - can now open USD bank accounts, settle trades, and move funds freely, by leveraging SGB’s full SWIFT membership and regulatory standing. This will enable businesses to seamlessly move assets 24/7, in major currencies such as USD, AED, SAR, BHD, SGD, EUR, HKD, and CNH. The partnership will additionally integrate Aquanow’s globally deployed digital asset services with SGB’s regulated banking network and real-time settlement platform, SGB Net, to enable seamless on and off-ramping between crypto and fiat.
“As digital assets become part of everyday financial operations, institutions need more than access – they need reliable, compliant infrastructure to operate at scale,” said Phil Sham, CEO & Co-Founder of Aquanow. “Our partnership with SGB addresses that head-on. By integrating with a regulated institution like SGB, we will enable a more crypto-friendly banking environment for various stakeholders. This is a critical step in closing infrastructure gaps and unlocking a more seamless, borderless financial system for our clients.”
Shawn Chan, CEO of SGB, stated: “Our partnership with Aquanow marks a significant step forward in bridging digital assets with regulated banking infrastructure. By combining Aquanow’s institutional-grade platform with SGB’s banking capabilities and global onboarding reach, we’re facilitating seamless access to fiat for digital asset users."
With millions of customers between them, both Aquanow and SGB aim to make the present and future of money accessible by enabling secure solutions for fiat access, crypto settlements, and 24/7 cross-border payments.
This partnership comes amid rising institutional adoption of digital assets, with markets in MENA and Asia leading the charge due to progressive regulatory frameworks and a growing appetite for blockchain-based financial services. The integration of Aquanow and SGB’s infrastructure sets the stage for future user access to fiat-crypto conversions directly within SGB’s platform, enhancing the utility of bank accounts for retail and institutional users.
About Aquanow
Aquanow is a leading institutional digital asset platform powering fast-growing banks, neobanks, brokerages, and payment companies. The company operates technology infrastructure and underwrites billions of dollars in monthly crypto brokerage and payment transactions. Established in 2018, Aquanow employs over 150 team members across offices worldwide. In 2024, for the second consecutive year, Aquanow was recognized on the Deloitte Technology Fast 500 list, achieving a four-year revenue growth rate of 3,022%. For further information on Aquanow, please visit www.aquanow.com.
In the UAE, Aquanow operates via Aquanow ME FZE, which is incorporated in Dubai World Trade Centre, under license number L-2795 and regulated by Dubai's Virtual Assets Regulatory Authority with license (VL/24/01/001) activities including Broker-Dealer Services, Lending and Borrowing Services and Management and Investment Services. Virtual assets come with risks, including price fluctuations and the chance of losing your investment. They aren’t covered by financial protections, so it’s important to understand these risks fully.
About SGB
SGB is the first fully licensed digital bank in Bahrain serving global investors, innovators and institutions. Geared towards the digital economy, SGB empowers frictionless movement between digital and traditional finance and provides financial connectivity between Asia and the Middle East North Africa (MENA) region.
Learn more: https://www.sgb.com
