Binance Bahrain has joined forces with Singapore Gulf Bank (SGB) to introduce a direct U.S. dollar transfer service tailored for retail customers.
๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐ฎ๐ป๐ฑ ๐ฆ๐๐ ๐ฃ๐ฎ๐ฟ๐๐ป๐ฒ๐ฟ ๐๐ผ ๐๐ฎ๐๐ป๐ฐ๐ต ๐๐ถ๐ฟ๐ฒ๐ฐ๐ ๐จ๐ฆ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ณ๐ฒ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐ฅ๐ฒ๐๐ฎ๐ถ๐น ๐๐๐๐๐ผ๐บ๐ฒ๐ฟ๐@binance Bahrain and Singapore Gulf Bank (SGB) have partnered to deliver direct USD transfers for retail customers, making it easier andโฆ pic.twitter.com/1llnlx4AwC
— Singapore Gulf Bank (@SGB_app) September 9, 2025
According to the bank, this initiative seeks to simplify the movement of funds between traditional banking systems and digital assets, marking a major milestone for financial development in the Gulf region.
The service allows retail customers to link their SGB bank accounts directly to Binance Bahrain, depositing or withdrawing U.S. dollars in seconds and converting fiat into crypto within a single, compliant flow.
Availability will depend on individual eligibility and local regulations, but the rollout reflects a growing demand for seamless fiatโcrypto connectivity.
Seamless Onboarding and Instant Transactions
For the first time, retail usersโbeyond corporates and high-net-worth clientsโcan access direct U.S. dollar banking rails through Binance Bahrain. Once linked, accounts offer bank-grade on/off-ramp functionality, ensuring customers can move funds securely and efficiently.
Transactions between an SGB account and a Binance Bahrain wallet are executed in seconds, streamlining the process of converting traditional money into digital assets.
Customers will need to link their accounts once, after which Binance and SGB will handle the technical complexities behind the scenes. This ensures that users can start accessing the service almost immediately, minimizing the barriers to entry for those new to crypto.
Supporting Bahrainโs FinTech Vision
The partnership builds on the Central Bank of Bahrainโs progressive regulatory stance toward digital finance, showing the Kingdomโs ambition to cement its role as a regional hub for financial development.
Binance Bahrain General Manager Tameem AlMoosawi explained that the collaboration aligns with Bahrainโs Economic Vision 2030, which seeks to foster inclusivity and development in financial services.
โWith this partnership with SGB, we are creating an environment where users can effortlessly convert fiat to crypto, empowering Bahrainโs vision to become a leading hub for financial innovation in the region,โ AlMoosawi said.
Shawn Chan, CEO of SGB, echoed this sentiment, noting the broader shift underway across the Gulf Cooperation Council (GCC). โDigital assets are reshaping finance across the GCC and other fast-growing markets. With SGB Link, we are building a trusted, regulated, and efficient bridge between banking and crypto, and we are proud to launch this first with Binance Bahrain.โ
By integrating banking-grade infrastructure with a global crypto platform, Binance and SGB are setting a new standard for compliant, real-time, and borderless fiatโcrypto transactions.
SGB Eyes $50M Acquisition of Stablecoin Payments Company
In 2024, SGB announced it was looking to raise at least $50 million to acquire a stablecoin payments company in 2025.
The bank, established in February 2024 by Singaporeโs Whampoa Group and licensed in Bahrain, reportedly plans to sell 10% of its equity by early 2025 to fund the acquisition.
The decision comes amid the growing adoption of stablecoins and cryptocurrencies within the global banking sector.
The post Binance Bahrain Debuts Direct USD Banking Rails โ Retail Access in Seconds appeared first on Cryptonews.
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