Is Singapore Gulf Bank crypto friendly?
Yes. Built for crypto firms, with a USD personal account that plugs straight into Binance Bahrain.
CBL Score: 10 of 16
| Criterion | Score | Source |
|---|---|---|
| Accepts exchange transfers | yes (2) | source · checked 8 September 2026 |
| Stablecoin off-ramp | yes (2) | source · checked 8 September 2026 |
| Business accounts for Web3 | yes (2) | source · checked 8 September 2026 |
| Custody | yes (2) | source · checked 8 September 2026 |
| Staking and yield | no (0) | source · checked 8 September 2026 |
| Card | no (0) | source · checked 8 September 2026 |
| Multiple jurisdictions | partial (1) | source · checked 8 September 2026 |
| Open to retail | partial (1) | source · checked 8 September 2026 |
Total 10 of 16. Yes scores 2, partial 1, no 0. A secondary source is press or a third party rather than the bank or its regulator. Unverified means no source could be found; the score stands until one is.
Score history
Scores are revised when a bank's documents change. Each revision is dated and sourced.
| 8 September 2026 | Card | partial to no | source |
| 8 September 2026 | Staking and yield | partial to no | source |
Standing
| Jurisdiction | Bahrain |
| Type | Crypto-native |
| Health tag | Unknown Real Bahrain licence and sovereign wealth backing, but too new to judge, with almost no published financials. · checked 26 August 2026 |
| Last verified | 8 September 2026 |
If they close your account
Closure policy: Partial
| Notice | No notice period stated for closing an account. The published terms cover electronic services only. Clause 3.8 lets the bank terminate or suspend electronic services immediately without prior notice on misuse. Clause 3.11 lets it stop or suspend electronic services immediately without giving any reason. Clause 4.3g lets it revoke access credentials at its sole discretion without reason or notice. |
| Reasons given | By category only (terms breach, security risk, missing documents) |
| Access to funds | The FAQ says clients contact Client Services to close the account and transfer any remaining funds to another bank account, and that a restricted account may be held while a standard review runs. The terms themselves say nothing about balances after closure. |
| Appeal | No internal appeal of a closure is described; the FAQ says to contact the bank for more information. The complaints page says the bank acknowledges a complaint within 5 business days and aims to answer within 20 business days. If unresolved, the client may refer the matter to the Compliance Directorate at the Central Bank of Bahrain within 30 calendar days of the resolution letter. |
| Names crypto as a ground for closure | no |
Sources: SGB terms and conditions (electronic services), clauses 3.8, 3.11 and 4.3g · official, checked 23 September 2026
SGB FAQ, why was my account closed and how do I close my account · official, checked 23 September 2026
SGB complaints and feedback page, CBB escalation · official, checked 23 September 2026
A closure usually starts as a freeze. The Frozen Account Survival Kit covers the first 48 hours. Every bank side by side: which banks tell you why they closed your account.
What Singapore Gulf Bank allows and blocks
Allowed
- Direct USD transfers between your SGB account and Binance Bahrain through SGB Link, settling in seconds
- USD transfers to other supported crypto exchanges from the personal account, and withdrawals back to USD
- USDT and USDC deposits, and stablecoin to fiat conversion for eligible clients
- Business accounts for exchanges, stablecoin issuers, market makers, OTC desks, payment firms and prime brokers
- SGB Net: free, instant transfers between SGB accounts, 24 hours a day, every day of the year
- USDC mint and redeem 1:1 against USD on Solana, with USDT, USDe and USDG planned
- Fully remote onboarding by app for personal and business accounts
- Fixed deposits in USD paying up to 4.00% a year
Blocked or restricted
- Stablecoin mint and redeem is for corporate and high net worth clients only, with a USD 100,000 minimum per transaction
- Stablecoin settlement over SGB Net is limited to corporate clients
- Personal accounts hold USD only; SGD, CNH, GBP and EUR balances are for business clients
- No debit or credit card is offered
- No staking or crypto yield product
- Eligibility depends on nationality and country of residence, and the bank does not publish the list of accepted countries
- Transfers cannot be cancelled once sent
Opening an account
- Personal applicants must be 21 or older. Eligibility is decided by nationality, residence and local rules, and the accepted-country list is not published.
- Documents: a government-issued passport or national ID with at least three months' validity, a selfie, and proof of address dated within three months (no P.O. Box addresses). Source of funds evidence such as payslips, bank statements or sale agreements is requested for AML checks.
- Most applications are reviewed within 3 to 10 business days. The first deposit must come from a bank account in your own name.
- There is no minimum opening deposit, but the personal account carries a USD 9.90 monthly fee unless the average daily balance stays at or above USD 10,000, in which case the fee is refunded the following month.
- Business onboarding requirements and timelines are not published. The bank says it serves eligible clients across selected markets.
Fees that matter
- Personal account: USD 9.90 a month, refunded when the monthly average daily balance is at least USD 10,000. The account pays no interest.
- SGB Link to Binance Bahrain: deposits to Binance are free, withdrawals back to SGB cost 0.3%, capped at USD 500.
- Incoming SWIFT: no SGB fee (the sending bank may charge USD 20 to 50). Outgoing SWIFT: USD 30 per transfer, plus intermediary charges if you choose to pay all fees. Minimum outgoing transfer USD 100.
- Transfers between SGB accounts are free. USDC mint and redeem on Solana had gas and bank fees waived at launch in April 2026 for a limited period. FX spreads are shown before confirmation but not published as a rate card.
Regulatory history
| 2024 | Central Bank of Bahrain awards Singapore Gulf Bank a banking licence; Mumtalakat, Bahrain's sovereign wealth fund, invests alongside founder Whampoa Group in February 2024. source |
| 2024 | Bank opens for business on 4 November 2024 as a conventional wholesale bank licensed by the CBB, launching corporate accounts, a real-time settlement network, digital asset custody and trading. source |
| 2026 | Stablecoin mint and redeem service launched in April 2026 under the CBB wholesale licence; correspondent accounts added with J.P. Morgan (January), BNY (April) and Standard Chartered (May). No CBB enforcement actions found. source |
See a mistake? Email hi@cryptobanklist.com. Every factual correction is logged on our corrections page.
Questions about Singapore Gulf Bank
Does Singapore Gulf Bank let me send money to Binance?
Yes. SGB Link connects your SGB personal account directly to Binance Bahrain, and USD moves in seconds without an intermediary bank. Sending to Binance is free. Pulling money back to SGB costs 0.3%, capped at USD 500.
Can I open a Singapore Gulf Bank account from outside Bahrain?
Onboarding is fully remote through the app, and the bank says it serves eligible clients across selected markets. Whether you qualify depends on your nationality and country of residence, and the bank does not publish the list. You need to be 21 or over, with a passport or national ID, a selfie, proof of address and source of funds documents. Most applications are reviewed in 3 to 10 business days.
What does a Singapore Gulf Bank personal account cost?
USD 9.90 a month, refunded the following month if your average daily balance stays at or above USD 10,000. Incoming wires are free on SGB's side, outgoing SWIFT is USD 30, and transfers to other SGB customers cost nothing. The account holds USD only and pays no interest, though fixed deposits pay up to 4.00% a year.
Does Singapore Gulf Bank convert USDC or USDT to dollars?
Yes, for eligible clients. The bank accepts USDT and USDC deposits and converts them to fiat inside the account, on Ethereum, Solana, Base, Arbitrum and Avalanche for business clients. The 1:1 USDC mint and redeem service launched in April 2026 is for corporate and high net worth clients with a USD 100,000 minimum.
Closest alternatives
Yes for licensed businesses and institutions, no for individuals.14/16Xapo Bank
Yes. Bitcoin and stablecoins are the core product, though the bank publishes no policy on transfers to exchanges.