Singapore Gulf Bank taps Standard Chartered for digital asset payment corridors
Singapore Gulf Bank has entered a strategic banking partnership with Standard Chartered to strengthen cross-border settlement and multi-currency payment services across emerging digital asset markets.Singapore Gulf Bank partnered with Standard Chartered to improve cross-border settlement and correspondent banking services across the Middle East and Asia.SGB said the collaboration will help clients access faster multi-currency payment flows through Standard Chartereds clearing network. According to a release shared with crypto.news on Tuesday, the agreement expands the bank‘s correspondent banking network and improves payment routing in regions where digital asset activity has been growing quickly, particularly across the Middle East and Asia. Clients operating in those corridors are expected to gain faster settlement and reduced transaction friction through Standard Chartered’s clearing infrastructure. Speaking on the partnership, Singapore Gulf Bank Chief Executive Officer Shawn Chan said businesses in emerging markets still face delays caused by layered intermediary banking systems. Chan stated that the collaboration with Standard Chartered would help remove those bottlenecks while supporting infrastructure tied to the digital asset economy. Within the arrangement, Standard Chartered will provide correspondent banking and clearing support through its global network. Karine Zakhour, Head of Banks, Brokers and Dealers at Standard Chartered MENA, said payment activity across high-growth corridors has continued