Singapore Gulf Bank and J.P. Morgan Partner to Deliver Uninterrupted USD Clearing
Singapore Gulf Bank has become one of the first digital banks in the MENA region to offer round-the-clock US dollar clearing after implementing J.P. Morgan Payments’ Wire 365 solution, a move the bank says will let clients send and receive USD funds every day of the year, including weekends and public holidays.
The Wire 365 service removes the traditional cut-off times that have long constrained cross-border USD payments and gives banks near-real-time access to clearing 365 days a year. For corporate and institutional clients, this translates into fewer payment delays, improved liquidity management and more flexibility to optimize cash flows and meet time-sensitive obligations. J.P. Morgan’s own description of Wire 365 emphasizes the product’s role in enabling continuous, same-day USD clearing for financial institutions.
Major Step Forward for Digital Banking
The collaboration was formalized as part of a broader correspondent banking relationship that opens a USD clearing account for Singapore Gulf Bank with J.P. Morgan, giving the Bahrain-based digital lender direct access to one of the world’s largest USD payment networks. Bank executives said the arrangement will let Singapore Gulf Bank receive and credit incoming client funds on weekends and public holidays, significantly enhancing service availability and convenience.
Ali Moosa, Executive Vice Chairman of Singapore Gulf Bank, framed the deal as a strategic step for both the bank and the region: “This collaboration is a major step forward for digital banking in the Gulf Cooperation 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.” The bank also highlighted that daily, uninterrupted clearing will help clients better manage liquidity and reduce operational friction linked to traditional payment windows.
From J.P. Morgan’s side, Nawaf Humood, Executive Director, Financial Institution Group Sales at J.P. Morgan Payments, said the bank was pleased to supply Singapore Gulf Bank with the Wire 365 capability, noting the partnership underscores SGB’s growing position as a leading digital bank in the market and reflects Bahrain’s interest in supporting financial innovation. The tie-up follows a wider industry trend in which large correspondent banks are extending 24/7 USD clearing capabilities to regional partners.
J.P. Morgan Payments combines treasury services, trade and working capital, and card and merchant capabilities to help clients move money globally in many currencies. The payments arm processes vast volumes of transactions each day, measured in trillions of dollars, and operates across hundreds of countries and scores of currencies, underscoring why access to its network is attractive for emerging digital banks looking to boost cross-border capability and client experience.
By embedding Wire 365 into its stack, Singapore Gulf Bank positions itself at the forefront of digital transformation in the region’s banking sector, promising faster, more reliable USD payment processing for customers that trade across time zones. As corporates and financial institutions increasingly expect uninterrupted access to global liquidity, the move signals how correspondent relationships and new clearing technologies are reshaping the mechanics of cross-border business.
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