Key takeout
- Binance has partnered with Singapore Gulf Bank to introduce a direct USD transfer service for retail users.
- Users can link their Singapore Gulf Bank account to Bahrain and enable instant fiat on/off ramps.
Binance has partnered with Singapore Gulf Bank to launch the USD Direct Transfer Service for retail users. This collaboration allows users to link their Singapore Gulf Bank account to Bahrain to instantly USD on and off-ramps.
The service allows users to convert FIAT currency into digital assets through what the company describes as a compliant process. This partnership provides direct access to crypto transactions through traditional banking infrastructure.
The USD forwarding feature works through Binance's Bahrain entity. It acts as a technical gateway for Fiat to Crypto conversion services.
