Image Credit: Payward Inc.
- Kraken parent Payward has connected to Singapore Gulf Bank’s SGB Net clearing network to provide selected institutional clients with 24/7 instant U.S. dollar settlement.
- The integration allows eligible clients in Asia and the Gulf to deposit dollars and deploy cash into digital asset markets without waiting for traditional banking hours.
- The companies have not announced a timetable for adding more currencies or expanding access beyond the initial phase.
Kraken parent Payward has connected to Singapore Gulf Bank’s SGB Net clearing network, giving selected institutional clients access to instant U.S. dollar settlement around the clock.
The service is available to eligible clients in parts of Asia and the Gulf, allowing institutions to fund Payward accounts and deploy cash into digital asset markets without waiting for traditional banking hours.
SGB Net Starts With 24/7 U.S. Dollar Settlement
The integration connects Payward directly to SGB Net, Singapore Gulf Bank’s real-time multi-currency clearing network. The first phase supports selected U.S. dollar transactions for a limited group of clients, with additional customers and currencies planned later.
Eligible SGB clients can deposit dollars with Payward and make the funds available for trading immediately, including overnight and on weekends. The companies have not announced a timetable for adding more currencies.
SGB Net Processes More Than $20B in Fiat Each Month
Singapore Gulf Bank launched SGB Net in 2025 for businesses operating across traditional and digital asset markets. The bank says the network now processes more than $20 billion in fiat transactions each month.
SGB is licensed as a conventional wholesale bank by the Central Bank of Bahrain. The 24/7 connection is designed to reduce the gap between continuously traded digital asset markets and bank transfers that remain constrained by cut-off times and business days.
Kraken Prime Will Add Digital Asset Liquidity for SGB Clients
Singapore Gulf Bank is also adding Kraken Prime as another source of liquidity for its digital asset services.
Over the coming months, the bank plans to use Payward’s markets when pricing trades for its customers. Kraken Prime provides institutional trading and liquidity services through Payward’s infrastructure.
The rollout begins with selected U.S. dollar transactions, while SGB and Payward plan to expand access to additional institutional clients and currencies after the initial phase.
