Payward, the company behind Kraken, partnered with Singapore Gulf Bank to provide 24/7 settlement for institutional digital asset transactions.
The service will initially support United States (US) dollar settlements for selected institutional clients in eligible Asian and Gulf jurisdictions.
Payward integrated SGB Net, Singapore Gulf Bank’s real-time clearing network, into its platform.
Eligible clients can now settle qualifying digital asset transactions at any time through SGB Net.
The partnership addresses delays that occur when continuous crypto trading meets banking systems with fixed operating hours.
Crypto markets operate continuously, while banks often process fiat transfers within fixed business hours.
Institutions can therefore wait hours or days to transfer fiat funds between banks and digital asset platforms.
These delays can prevent institutions from funding trades when local banks have closed.
SGB Net allows eligible clients to deposit funds with Payward and access those funds immediately for digital asset activity.
The initial rollout covers US dollar settlements for a limited group of institutional customers.
Payward and SGB plan to add more institutional clients and currencies as the service expands.
The companies will expand access according to the rules and availability in each jurisdiction.
Kraken Prime Adds Liquidity to the Deal
Singapore Gulf Bank will use Payward’s Kraken Prime service as a source of digital asset liquidity for its customers.
Kraken Prime provides institutional clients with access to digital asset liquidity through Payward’s markets.
SGB plans to use Payward’s markets to price digital asset trades for customers in the coming months.
The arrangement gives SGB access to Payward’s digital asset liquidity while SGB Net handles qualifying settlement.
SGB launched SGB Net in 2025 to give digital asset businesses faster access to fiat transaction processing.
SGB says SGB Net now processes more than $20 billion in fiat transactions each month.
The network supports real-time clearing for transactions involving multiple currencies.
The Payward integration initially supports US dollar settlements for selected institutional clients.
SGB Chief Executive Officer Shawn Chan said institutional clients need timely access to funds when they trade digital assets. He stated,
“By connecting SGB Net with Payward and partnering with Kraken Prime, we are bringing settlement and liquidity closer together, giving clients more flexibility in how they fund and manage their digital asset activity.”
Payward Expands Its Banking Network
The partnership expands Payward’s financial infrastructure across banking, trading and digital asset services.
For SGB, the agreement adds Payward’s institutional markets and Kraken Prime liquidity to its banking services.
SGB can connect its settlement network with Kraken Prime and use Payward’s markets to support customer trades.
The bank can also develop additional digital asset services as it expands its relationship with Payward.
Payward and SGB have not disclosed how many institutional clients will join the initial rollout.
The companies have also not disclosed the transaction volume expected from the new settlement service.
Payward and SGB plan to add more institutional clients and currencies after the initial US dollar rollout.
