The convergence of traditional finance with the burgeoning digital asset economy is accelerating, driven by the demand for more efficient and integrated financial services. A significant step in this direction is the partnership between Singapore Gulf Bank (SGB) and Cactus Custody, a move designed to equip institutional clients with continuous access to fiat currency, thereby streamlining operations within the hybrid financial landscape.
This strategic alliance will see SGB integrating its existing infrastructure with Cactus Custody’s advanced platform. The primary objective is to enable institutional clients to manage both digital assets and traditional fiat currencies from a single, unified interface. This integration is poised to significantly reduce operational costs and enhance the speed of payment processing, marking a critical improvement in institutional-grade digital asset management.
Further bolstering its offerings, SGB aims to expand the reach of its proprietary SGB Net solution. Launched in early May 2025, SGB Net promises zero-fee, 24/7 transfers, alongside access to a comprehensive suite of financial services. This platform underscores SGB’s commitment to modernizing financial transactions for its clientele, with the Cactus Custody partnership extending its capabilities into the digital asset realm.
Wendy Jiang, General Manager of Cactus Custody, emphasized the partnership’s role in strengthening fiat capabilities and custody services for institutional clients. She noted that SGB’s robust infrastructure and compliance framework would empower clients to manage diverse asset types more effectively and coordinate their operations with greater confidence, bridging the security standards of traditional finance (TradFi) with the innovation of decentralized finance (DeFi).
Strategic Positioning of the Partners
Singapore Gulf Bank positions itself as the first fully licensed digital bank in the Middle East and North Africa (MENA) region, registered in Bahrain, signaling its pioneering role in digital financial services. Cactus Custody, launched in 2018, offers institutional-grade custody solutions that combine access to DeFi protocols with the rigorous security standards typically found in TradFi environments.
SGB’s commitment to institutional credibility is also evident in its advisory board, which includes high-profile figures such as Randal Quarles, former Vice Chairman of the US Federal Reserve. Such appointments highlight the bank’s strategic intent to build trust and navigate the complex regulatory landscape of both traditional and digital finance, providing a robust framework for its institutional clients in an evolving global economy.
Senior Crypto Correspondent with over 8 years of experience covering Bitcoin, altcoins, and blockchain technology for leading financial publications. Alexander holds a master’s degree in Financial Economics and specializes in in-depth market analysis, regulatory updates, and interviews with top industry figures.