QuantCapThe two firms will initially roll out the digital assets settlement service to select institutional clients in Asia and the Gulf region with around-the-clock U.S. dollar settlement.
Kraken operator Payward and Singapore Gulf Bank platform for 24/7 institutional crypto settlement
The two firms will initially roll out the digital assets settlement service to select institutional clients in Asia and the Gulf region with around-the-clock U.S. dollar settlement.
Payward integrated Singapore Gulf Bank’s real-time clearing network to let select institutional clients settle eligible digital-asset transactions and fund trading around the clock. The service initially supports U.S. dollar transactions for clients in eligible Asian and Gulf jurisdictions, with more clients and currencies planned. The partnership addresses the mismatch between nonstop crypto trading and traditional banking hours by making deposited funds immediately available through SGB Net.
Payward, the financial infrastructure company behind crypto exchange Kraken, integrated Singapore Gulf Bank’s real-time clearing network to enable institutional clients to settle qualifying digital-asset transactions around-the-clock and fund trading even on a non-banking day.
The service begins with U.S. dollar transactions for a select group of clients in eligible Asian and Gulf region jurisdictions, Payward announced on Sunday.
Mark Greenberg, Payward’s chief commercial officer, explained the deal targets a fundamental issue affecting crypto markets. While assets trade all weekend and around the clock, the cash that funds those trades often remains subject to bank cut-off times and multi-day settlement. SGB Net allows clients to deposit funds with Payward and use them immediately.
“Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint: settlement stops when the business day does, while their markets do not,” Greenberg added.
Payward is expanding beyond Kraken’s exchange business into the infrastructure that connects trading, custody, payments and banking. It follows a report last week that BNY is in discussions with Payward over a potential tie-up spanning digital assets, custody, trading and payments.
For Singapore Gulf Bank, connecting settlement with Kraken Prime’s liquidity means institutional clients can move cash and trade without waiting for the next banking day. The firms did not disclose the number of clients in the initial rollout or the transaction volumes involved.
SGB Net, launched in 2025, processes more than $20 billion in fiat transactions each month, according to the bank. Payward and SGB said they plan to add clients and currencies over time.
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