Singapore Gulf Bank joins J.P. Morgan’s Correspondent Banking network and rolls out Wire 365 for seamless USD Clearing
Singapore Gulf Bank (SGB) has further strengthened its relationship with J.P. Morgan by opening a correspondent banking account, granting SGB direct access to one of the world’s most established USD clearing networks. This strategic move enhances SGB’s ability to deliver seamless, secure, and efficient cross-border payment services to its clients.
The collaboration fortifies SGB’s existing network of correspondent banks and payment systems, including its proprietary real-time settlement network, SGB Net. By combining traditional global payment rails with its advanced infrastructure, SGB offers more comprehensive omnichannel settlement capabilities, empowering clients to manage global liquidity more effectively.
Building on this foundation, SGB has become one of the first digital banks in the MENA region to implement J.P. Morgan Payments’ Wire 365 solution. This innovative service enables USD clearing 365 days a year, providing uninterrupted, near real-time access to cross-border payments. With Wire 365, SGB can now receive and credit clients’ incoming funds over weekends and public holidays, significantly enhancing service availability and convenience. By removing traditional cut-off times and operating every day of the year, Wire 365 can help improve liquidity management and offer clients greater flexibility to optimize cash flows and meet payment obligations efficiently.
Ali Moosa, Executive Vice Chairman of SGB, stated: “This collaboration is a major step forward for digital banking in the Gulf Corporation Council and further strengthens our position as the financial bridge between Asia and the Gulf. Joining J.P. Morgan’s global network allows us to offer clients a convenient route for USD clearing, and ensures that their capital moves with the speed, certainty, and security required in today’s global economy. Singapore Gulf Bank’s adoption of Wire 365 highlights our commitment to innovation and enhancing the banking experience for our clients. This advancement places Singapore Gulf Bank at the forefront of digital transformation in the financial sector, setting a new standard for efficient and reliable USD payment processing.”
Nawaf Humood, Executive Director, Financial Institution Group Sales at J.P. Morgan Payments, stated, “We are pleased to provide Singapore Gulf Bank with the Wire 365 payment solution. This collaboration highlights SGB’s expanding position as a leading digital bank in the market and underscores the Kingdom of Bahrain’s commitment to supporting Innovation.”
The collaboration was formalized during a signing ceremony at SGB’s headquarters in Bahrain. J.P. Morgan Payments combines treasury services, trade and working capital, and card and merchant services capabilities to help clients pay customers and employees in different currencies around the world. It typically moves more than $10 trillion (USD) in payments daily, operating in over 160 countries and over 120 currencies.
This announcement is the latest in a series of milestones for SGB. The bank launched its corporate banking service in late 2024 and its proprietary real-time, multi-currency clearing network, SGB Net, in May 2025. Last month, SGB announced a partnership with digital asset infrastructure provider Fireblocks to support secure treasury management and digital asset custody.