Kraken Parent Company Partners With Bank for 24/7 Dollar Settlements

Payward, the parent company of major crypto exchange Kraken, has partnered with Singapore Gulf Bank (SGB) to remove business-hour limits on dollar transactions for select institutional clients in Asia and the Gulf. The collaboration integrates SGB Net, the real-time settlement network of SGB, a licensed digital bank regulated by the Central Bank of Bahrain. This partnership aims to bridge banking infrastructure with institutional crypto market transactions, enabling instant settlement of dollar transactions 24/7.

The service will initially support U.S. dollar transactions for institutional clients in specific regions, with plans to expand to more clients and additional currencies in later stages. The integration allows dollar transactions to settle instantly, eliminating the need to wait for business hours to complete these transactions.

Beyond speeding up dollar transactions, SGB will also connect to Payward’s Kraken Prime platform. This connection provides SGB customers with access to digital asset liquidity and transaction quotes, while Payward’s institutional clients benefit from the bank’s round-the-clock settlement infrastructure.