Payward and Singapore Gulf Bank Partner for 24/7 Settlement

Payward, the financial infrastructure company behind crypto exchange Kraken, has integrated Singapore Gulf Bank’s real-time clearing network to enable select institutional clients to settle eligible digital-asset transactions and fund trading around the clock, according to CoinDesk.

The service initially supports U.S. dollar transactions for clients in eligible Asian and Gulf jurisdictions, with plans to expand to more clients and currencies over time. According to Payward, the partnership addresses the ongoing mismatch between nonstop crypto trading and traditional banking hours by making deposited funds immediately available through SGB Net.

Addressing Banking Constraints

Mark Greenberg, Payward’s chief commercial officer, explained that the collaboration targets a fundamental issue affecting digital asset markets. While crypto assets trade all weekend and around the clock, the cash that funds those trades is often subject to bank cut-off times and multi-day settlement delays.

"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 stated.

Expansion and Infrastructure

The initiative forms part of Payward's broader expansion beyond Kraken’s exchange business into infrastructure connecting trading, custody, payments, and banking. Recent reports also indicated 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 allows institutional clients to move cash and execute trades without waiting for the next business day. Launched in 2025, SGB Net processes more than $20 billion in fiat transactions each month, according to the bank.

Key facts

• Payward integrated Singapore Gulf Bank’s SGB Net to provide 24/7 U.S. dollar settlement for institutional clients.
• The service initially targets select clients in eligible Asian and Gulf jurisdictions.
• SGB Net processes over $20 billion in fiat transactions monthly, according to the bank.
• The partnership connects fiat settlement directly with Kraken Prime’s liquidity.