Kraken Parent Partners with Singapore Gulf Bank for 24/7 Institutional Trading
Payward, the parent company of the cryptocurrency exchange Kraken, has formed a strategic partnership with Singapore Gulf Bank (SGB) to enhance institutional trading services in Asia and the Gulf region. The collaboration enables institutional investors to access 24-hour, real-time dollar settlement services by integrating SGB Net, a multi-currency clearing network, into Payward’s systems. This integration allows eligible clients to transfer and deploy funds for trading at any time, overcoming the limitations of traditional banking hours. Mark Greenberg, Payward’s Chief Commercial Officer, emphasized the mismatch between the 24/7 nature of digital asset markets and the restricted operating hours of banks.
The partnership also connects SGB to Kraken Prime, Payward’s institutional-only service, which will provide liquidity for digital asset trades. Shawn Chan, CEO of SGB, noted that combining settlement and liquidity allows clients greater flexibility in moving funds. SGB Net, launched in May 2025, processes over $20 billion monthly in fiat transactions, reflecting significant growth since its inception. The collaboration is part of Payward’s broader strategy to link settlement networks with regulated financial institutions, following a similar partnership with SoFi earlier this year.
Beyond settlement services, SGB has been expanding its digital asset offerings, including stablecoin interoperability and direct issuance capabilities. Payward is also developing regulated custody infrastructure in the U.S., with plans to launch Payward National Trust Company as a federally regulated digital asset custodian. While the initial phase of the partnership focuses on U.S. dollars and select institutional clients, both companies plan to expand supported currencies and eligibility in the future.