Kraken parent Payward partners with Singapore Gulf Bank for round-the-clock settlement
Payward has connected to Singapore Gulf Bank's clearing network, SGB Net, enabling select institutional crypto clients across Asia and the Gulf region to settle U.S. dollar transactions 24/7.
Kraken parent company Payward has formed a strategic partnership with Singapore Gulf Bank (SGB) to offer round-the-clock instant settlement for institutional digital-asset clients. Through an integration with SGB Net, the bank's real-time multi-currency clearing network, participating institutions in eligible jurisdictions across Asia and the Gulf region can fund Payward accounts and execute instant U.S. dollar settlements 24 hours a day, seven days a week.[1][2][3][6]
SGB is a digital bank regulated by the Central Bank of Bahrain, and its SGB Net platform—which launched on May 1, 2025—processes over $20 billion in fiat transactions each month. Under the initial rollout announced on Oct. 5, participating clients can deposit dollars with Payward and deploy them immediately. While the companies have not disclosed specific eligible countries or named initial participants, they stated plans to broaden access to more institutions and support additional fiat currencies in the future.[1][5][6]
Alongside settlement services, the partnership includes a trading component. SGB will connect to Payward's Kraken Prime platform to access digital-asset liquidity. The bank plans to use Payward markets to price crypto transactions for its own clients over the coming months, though no exact start date for the pricing integration was provided.[1][4][5][6]
Key facts
- Payward, the parent company of Kraken, entered a strategic partnership with Singapore Gulf Bank to enable 24/7 instant settlement.
- Singapore Gulf Bank is a digital bank regulated by the Central Bank of Bahrain.
- Payward integrated SGB Net, an instant clearing network launched on May 1, 2025, that processes over $20 billion in fiat monthly.
- The settlement connection initially supports U.S. dollar transfers for select institutional clients in eligible jurisdictions across Asia and the Gulf region.
- SGB will connect to Kraken Prime to access digital-asset liquidity and plans to price trades for its customers using Payward markets in the coming months.
- The companies plan to expand the service to additional institutions and currencies over time without specifying expansion dates.
Sources · 6 sources
- WB
Wu Blockchain@WuBlockchainPost on X ·
Kraken parent company Payward and Singapore Gulf Bank (SGB), a fully licensed digital bank regulated by the Central Bank of Bahrain, have announced a strategic partnership. Payward has integrated SGB’s real-time, multi-currency clearing network, SGB Net, to provide institutional clients in specific jurisdictions across Asia and the Gulf region with 24/7 instant settlement. The service will initially support U.S. dollar transactions for select clients, with plans to expand to more clients and additional currencies. SGB will also connect to Payward’s Kraken Prime to access digital-asset liquidity and price trades for its own clients. https://t.co/HHZXlcJ8fS
Open source - CO
CoindeskArticle ·
Kraken operator Payward and Singapore Gulf Bank partner 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.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Kraken parent Payward has partnered with Singapore Gulf Bank to offer 24/7 settlement for institutional digital asset clients. Payward said it has integrated SGB Net, the bank's real-time multi-currency clearing network. The settlement service initially starts with USD transactions for a select number of clients, with more currencies planned.
Open source - CR
CryptoSlate@CryptoSlatePost on X ·
Payward, Kraken’s parent, has connected to Singapore Gulf Bank’s network for 24/7 dollar funding. It covers selected institutions in eligible Asia and Gulf jurisdictions. SGB’s use of Payward to price customer crypto trades is planned for coming months. https://t.co/oSfFPlQTyn
Open source - BS
BSCN@BSCNewsPost on X ·
Kraken is Getting 24/7 Banking For Institutional Crypto Payward, the company behind Kraken, has integrated Singapore Gulf Bank’s real-time settlement network. The partnership integrates SGB Net, allowing eligible clients to settle transactions instantly, seven days a week. The initial service covers US dollar settlements for a limited number of clients. SGB is also partnering with Kraken Prime to provide liquidity for digital asset offerings. The companies plan to expand settlement access and support additional currencies. SGB Net already processes more than $20 billion in fiat transactions each month.
Open source - CR
CryptoSlateArticle ·
Kraken parent joins Singapore Gulf Bank, opening 24/7 institutional dollar rails Kraken's parent company, Payward, has connected to Singapore Gulf Bank's SGB Net clearing network, opening round-the-clock US-dollar funding for selected institutional clients in Asia and the Gulf. The companies say participating clients in eligible jurisdictions can deposit cash with Payward and use it immediately. In their release dated Oct. 5 , the companies describe an initial dollar settlement offering. SGB also plans to use Payward markets to price digital asset trades for its own customers over the coming months, giving the partnership a live funding service and a separate planned trading component. Through SGB Net, participating SGB clients can fund Payward accounts at any hour, the companies say. The dollar connection is available 24 hours a day, seven days a week. Its immediate practical benefit is greater flexibility over when those institutions move cash for digital-asset activity. The releases do not name participating clients or list eligible countries, so they do not provide an institution outside that group with a country-by-country guide to availability. The reference to Asia and the Gulf describes the regional focus, while the jurisdiction restrictions limit where the service can be used. The companies intend to add more clients and currencies over time, but give no exact expansion date. Although the connection is operating for some institutions, the rollout announced so far is confined to the initial clients and dollars. The expansion plans concern both who can use the connection and which money it can move. Adding clients would extend participation, while adding currencies would expand the service beyond its initial US-dollar scope. SGB Net now settles Payward’s institutional dollar transfers, while customer trading remains planned. Singapore Gulf Bank announced the network's launch on May 1, 2025, and Payward is now connecting to that existing system, adding a funding route for the institutions included in the initial offering. Related Reading Why Nasdaq surveillance cannot settle the fight over 24/7 tokenized markets SGB expands partnership with Kraken SGB is also partnering with Payward's Kraken Prime for digital asset liquidity. The bank plans to draw on Payward markets to price its customers' trades over the coming months. The announcement supplies that broad horizon but no specific date for starting the customer-pricing service. The live connection lets participating institutions move their dollars into Payward and deploy them immediately. The planned pricing use concerns SGB sourcing liquidity for digital asset trades offered to its own customers. The next developments to watch are the start of SGB's customer-pricing use and the addition of settlement clients and currencies. Pricing has a stated horizon of the coming months, while the wider funding rollout remains undated. The post Kraken parent joins Singapore Gulf Bank, opening 24/7 institutional dollar rails appeared first on CryptoSlate .
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