Singapore Gulf Bank Connects to JPMorgan for Continuous USD Clearing

Source: CryptoTale Original Title: Singapore Gulf Bank Connects to JPMorgan for Continuous USD Clearing Original Link:

• Singapore Gulf Bank now offers always-on USD clearing through JPMorgan Wire 365.
• Wire 365 allows nonstop payment access across weekends, holidays, and time zones globally.
• The partnership strengthens cross-border liquidity flows between Asia and the Gulf.

Singapore Gulf Bank has opened a correspondent banking account with J.P. Morgan, gaining direct access to its USD clearing network through Wire 365. The move strengthens cross-border payments for clients operating across the Middle East, Asia, and global markets. Based in Manama, the digital bank operates under regulation from the Central Bank of Bahrain and focuses on continuous international money movement.

The arrangement allows Singapore Gulf Bank to process USD payments every day of the year. Clients are able to accept and allocate funds coming in even on weekends and public holidays without being restricted by normal cut-off times. Such a system allows for quicker settlements and better liquidity planning for companies with international exposure.

Singapore Gulf Bank has become one of the first digital banks in the MENA region to implement JPMorgan Payments’ Wire 365 solution. This service enables USD clearing 365 days a year, removing traditional banking time constraints.

The financial institution confirmed that the collaboration was a factor in the increased speed, certainty, and security of USD transactions. Moreover, it was in line with the growing need for unceasing access to cross-border liquidity throughout the different time zones.

Wire 365 Removes Time Barriers

Wire 365 enables near real-time USD clearing throughout the calendar year. Singapore Gulf Bank said the service improves service availability by eliminating weekday-only processing windows. As a result, clients gain more flexibility to meet payment obligations when markets stay open.

The system also supports improved liquidity management across global corridors. By allowing funds to move without delay, businesses can optimize working capital cycles. This approach reduces friction in international settlements that depend on precise timing.

Singapore Gulf Bank stated that Wire 365 fits within its broader digital banking strategy. The bank aims to combine continuous settlement with secure payment infrastructure. This integration supports clients relying on rapid and predictable USD flows.

Executives Frame Strategic Expansion

Ali Moosa, Executive Vice Chairman of Singapore Gulf Bank, said the collaboration strengthens its role between Asia and the Gulf. He noted that access to J.P. Morgan’s network gives clients a reliable route for USD clearing. The bank views the relationship as a step forward for digital banking across the Gulf Cooperation Council.

Nawaf Humood, Executive Director at J.P. Morgan Payments, said the firm welcomes the collaboration. He described the partnership as support for innovation within Bahrain’s financial sector. The service reflects growing demand for advanced payment solutions among digital banks.

J.P. Morgan Payments is a major player in the payments industry, handling daily transactions of more than $10 trillion in 160 countries and 120 currencies. The platform’s global infrastructure allows it to process thousands of transactions every second. Such a scale creates a reliable depth in the correspondent relationship.

Integrating Global and Digital Rails

The correspondent account is an addition to Singapore Gulf Bank’s payment systems, which already include its proprietary SGB Net infrastructure. The bank provides omnichannel solutions by utilizing a combination of traditional clearing rails and real-time settlement tools. Customers can handle their global liquidity through a single integrated framework.

Singapore Gulf Bank has been able to offer a wide range of services in banking, digital asset management, and stablecoin settlement. It is a well-funded institution that supports Whampoa Group and Mumtalakat, the sovereign wealth fund of Bahrain. This financial backing enhances its ability to provide cross-border services.

The collaboration between the two banks is a sign of a shift towards an always-on banking infrastructure. The institution’s ability to provide continuous clearing and correspondent access has become a determining factor in its response to global trade. Singapore Gulf Bank is taking a step towards meeting the expectations of such clients, with the facilitation of constant USD settlement being one of its strategies.