Payward, the financial infrastructure company behind crypto exchange Kraken, has integrated Singapore Gulf Bank's real-time clearing network to let institutional clients settle digital-asset transactions and fund trading around the clock. The service starts with U.S. dollar transactions for select clients in eligible Asian and Gulf region jurisdictions, closing the gap between nonstop crypto markets and traditional banking hours.
Kraken's parent, Payward, integrated Singapore Gulf Bank's real-time clearing network, SGB Net, to let institutional clients settle qualifying digital-asset transactions and fund trading around the clock, including on non-banking days.
Dollar settlement rolls out first
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, said the deal targets a structural mismatch: crypto assets trade all weekend and around the clock, but the cash funding those trades often remains subject to bank cut-off times and multi-day settlement. SGB Net lets clients deposit funds with Payward and use them immediately.
Payward expands beyond the exchange
Payward's partnership extends its push into infrastructure connecting trading, custody, payments and banking, beyond Kraken's core exchange business. It follows a report last week that BNY is in discussions with Payward over a potential infrastructure partnership spanning digital assets, custody, trading and payments. For Singapore Gulf Bank, linking settlement to Kraken Prime's liquidity means institutional clients can move cash and trade without waiting for the next banking day.
Volumes and next steps
Neither firm disclosed 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 plan to add more clients and currencies over time.
Source: CoinDesk
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