Digital asset infrastructure supplier Aquanow is partnering with SGB, a totally licensed digital financial institution, to resolve one of many greatest complications for crypto companies, open a dependable checking account. The collaboration is designed to supply seamless fiat banking providers to institutional gamers within the crypto area.
Bridging the Hole Between Crypto and Fiat
This new alliance will give Aquanow’s world shoppers, which embrace exchanges, cost suppliers, and fintech corporations, the power to simply open USD financial institution accounts, settle trades, and switch funds utilizing SGB’s full SWIFT membership and controlled banking framework.
This partnership advantages companies in search of dependable, compliant infrastructure that integrates digital belongings into mainstream monetary methods.
“Establishments want extra than simply entry; they want strong, compliant infrastructure to function at scale. Our partnership with SGB addresses this important want,” stated Phil Sham, CEO & Co-Founding father of Aquanow.
The 2 corporations purpose to offer a safe and scalable answer for companies to maneuver belongings freely, 24/7, in a number of currencies comparable to USD, EUR, AED, SAR, BHD, SGD, HKD, and CNH.
SGB’s Position in International Digital Banking
SGB stands out as the one digital financial institution within the MENA area that’s approved to onboard shoppers globally. That is due to its highly effective backing from Bahrain’s sovereign wealth fund, Mumtalakat, and Singapore’s Whampoa Group.
What’s taking place in Bahrain? SGB is a part of an even bigger development within the nation. Right here’s our report on one other main Bahraini agency that not too long ago added Bitcoin to its treasury.
SGB’s real-time settlement platform, SGB Web, will combine with Aquanow’s providers to facilitate easy fiat-to-crypto and crypto-to-fiat conversions. This integration is anticipated to pave the best way for higher on-and-off-ramping options for digital asset traders.
This transfer is anticipated to pave the best way for future on-and-off-ramping options inside SGB’s platform, facilitating simpler entry and exit factors for digital asset traders.
Increasing International Entry, with Concentrate on MENA and Asia
The partnership comes as institutional adoption of digital belongings continues to develop, notably within the MENA and Asia areas. These markets have been on the forefront of progressive regulatory frameworks and rising demand for blockchain-based monetary providers.
Shawn Chan, CEO of SGB, famous the importance of this partnership:
“By combining Aquanow’s institutional-grade platform with SGB’s banking capabilities and world onboarding attain, we’re facilitating seamless entry to fiat for digital asset customers.”
As digital belongings change into an integral a part of on a regular basis monetary operations, the necessity for strong, safe, and compliant infrastructure will proceed to rise. This partnership between Aquanow and SGB is a vital step in unlocking a extra seamless crypto-friendly banking setting, the place institutional gamers can function confidently in each conventional and digital finance areas.
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