Kraken Parent Payward Taps Singapore Bank for 24/7 Crypto Settlement

The financial infrastructure company behind the Kraken crypto exchange, Payward, has partnered with the Singapore Gulf Bank to enable 24/7 fiat currency settlement for select institutional clients.

The partnership, announced on Sunday, allows clients to settle qualifying digital-asset transactions and fund trading around the clock through SGB Net, the bank's real-time clearing network.

The service initially supports U.S. dollar transactions for clients in eligible Asian and Gulf jurisdictions, with more clients and currencies planned to be added over time.

According to Mark Greenberg, Payward's chief commercial officer, the deal addresses a fundamental issue affecting crypto markets: the mismatch between nonstop crypto trading and traditional banking hours.