Key facts
- Amy Lee, niece of Singapore's first prime minister Lee Kuan Yew, chairs the global advisory board of Singapore Gulf Bank (SGB).
- SGB is a fully licensed, Bahrain-based digital bank offering access to traditional and digital assets.
- The bank was established in 2024 through a partnership between Whampoa Group and Mumtalakat, Bahrain's sovereign wealth fund.
- SGB aims to facilitate 24/7 transactions in both fiat currencies and cryptocurrencies.
- In February, SGB introduced a stablecoin layer to its platform, allowing clients to mint, convert, hold, and trade stablecoins like USDT and USDC.
Amy Lee, a prominent figure with ties to Singapore's founding family, has co-founded the Singapore Gulf Bank (SGB), a digital bank based in Bahrain. The move highlights a growing trend of traditional finance professionals embracing digital assets and seeking regulatory-friendly jurisdictions for crypto-focused ventures. SGB aims to bridge the gap between traditional finance and the burgeoning digital asset economy, particularly focusing on the increasing trade corridor between the Gulf and Asia.