Singapore Gulf Bank: Embracing New Banking Services under Cryptocurrency and Compliance Framework According to Bitpanda data, only 20% of European banks provide related services, while over 40% of commercial investors hold cryptocurrency assets. The Singapore Gulf Bank (SGB), initiated by Singapore's Huangpu Group and established by the end of 2023, aims to fill this market gap. SGB is headquartered in Bahrain and has obtained a banking license from the Central Bank of Bahrain, making it the first licensed bank in the country to support digital assets. Starting from 2024, SGB will gradually launch remote banking services for enterprises and individuals, supporting dual channels of fiat and cryptocurrency, focusing on 24/7 real-time settlement, encrypted asset custody, payment and transfer services, with target users including digital nomads, small businesses, and Web3 companies. In terms of business model, SGB integrates traditional financial and digital asset services. Users can record, pay, and invest their salaries through fiat currency or encrypted assets, and achieve seamless cross-border transactions through their own settlement network. In addition, the bank also offers savings products with an annual interest rate of up to 4% and diversified investment options. In terms of risk control, SGB applies AI driven monitoring and identity verification systems to ensure strict compliance standards such as KYC and AML while ensuring user experience. The bank has clearly stated that its service positioning is not an encrypted trading platform, but a digital asset friendly banking infrastructure. Chairman Li Youqiang expressed the hope that SGB can serve the user groups that are not covered by traditional banks and become a new participant in the digital banking field in a differentiated way. At present, SGB is gradually expanding its influence, and its future performance still needs to be tested by the market.