Digital asset infrastructure supplier Aquanow is partnering with SGB, a totally licensed digital financial institution, to resolve one of many largest complications for crypto companies, open a dependable checking account. The collaboration is designed to supply seamless fiat banking companies to institutional gamers within the crypto area.
Bridging the Hole Between Crypto and Fiat
This new alliance will give Aquanow’s international purchasers, which embody exchanges, cost suppliers, and fintech firms, the flexibility 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 property into mainstream monetary methods.
“Establishments want extra than simply entry; they want sturdy, compliant infrastructure to function at scale. Our partnership with SGB addresses this crucial want,” stated Phil Sham, CEO & Co-Founding father of Aquanow.
The 2 firms goal to supply a safe and scalable answer for companies to maneuver property freely, 24/7, in a number of currencies similar 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 purchasers globally. That is because of its highly effective backing from Bahrain’s sovereign wealth fund, Mumtalakat, and Singapore’s Whampoa Group.
What’s occurring in Bahrain? SGB is a part of a much bigger development within the nation. Right here’s our report on one other main Bahraini agency that lately added Bitcoin to its treasury.
SGB’s real-time settlement platform, SGB Internet, will combine with Aquanow’s companies to facilitate clean fiat-to-crypto and crypto-to-fiat conversions. This integration is predicted to pave the way in which for higher on-and-off-ramping options for digital asset traders.
This transfer is predicted to pave the way in which 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 Deal with MENA and Asia
The partnership comes as institutional adoption of digital property continues to develop, significantly within the MENA and Asia areas. These markets have been on the forefront of progressive regulatory frameworks and rising demand for blockchain-based monetary companies.
Shawn Chan, CEO of SGB, famous the importance of this partnership:
“By combining Aquanow’s institutional-grade platform with SGB’s banking capabilities and international onboarding attain, we’re facilitating seamless entry to fiat for digital asset customers.”
As digital property develop into an integral a part of on a regular basis monetary operations, the necessity for sturdy, safe, and compliant infrastructure will proceed to rise. This partnership between Aquanow and SGB is an important 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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