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Payward and Singapore Gulf Bank Partner to Bring 24/7 Settlement to Institutional Digital Asset Markets
The network starts with U.S. dollar transactions for select clients and will expand to more currencies and users over time, the companies said.
- On Monday, October 5, 2026, Payward and Singapore Gulf Bank announced a partnership enabling 24/7 instant settlement for institutional clients in Asia and the Gulf through integration of SGB Net.
- Traditional banking settlement historically stops when the business day ends, creating constraints for digital asset firms that trade continuously; Payward Chief Commercial Officer Mark Greenberg stated this mismatch necessitates always-on banking infrastructure.
- Singapore Gulf Bank launched SGB Net in 2025, and the network now processes more than $20 billion in fiat transactions monthly; the bank will onboard Kraken Prime as an additional liquidity source.
- The service currently supports U.S. dollar transactions for select institutional customers, with plans to expand to additional currencies in coming months, as SGB CEO Shawn Chan stated, "Clients can move funds when they need to."
- Mirroring an earlier 24/7 settlement agreement with SoFi, this partnership reflects Payward's broader institutional expansion; separately, the firm has sought a federal crypto trust charter from the Office of the Comptroller of the Currency.
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Payward and Singapore Gulf Bank Partner to Bring 24/7 Settlement to Institutional Digital Asset Markets
/PRNewswire/ -- Payward, the unified financial infrastructure platform behind Kraken, and Singapore Gulf Bank (SGB), a fully licensed digital bank regulated by...
·Chicago, United States
Read Full ArticleKraken Parent Payward Partners With Singapore Gulf Bank for 24/7 USD Settlements
TLDR Kraken’s parent company, Payward, announced a partnership with Singapore Gulf Bank on October 5. Institutions in Asia and the Gulf can now settle in U.S. dollars around the clock, including weekends. Singapore Gulf Bank’s SGB Net network handles more than $20 billion in fiat transactions each month. The deal connects Singapore Gulf Bank with [...]
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