Kraken's Payward Partners with Singapore Gulf Bank for Digital Asset Settlements

Payward, the company behind the popular crypto exchange Kraken, has teamed up with Singapore Gulf Bank (SGB) to enhance digital asset settlements. The partnership integrates SGB Net, a real-time clearing network operated by the Bahrain-based bank, allowing institutional clients to settle transactions 24/7.

The initial phase supports US dollar settlements for a select group of clients, with plans to add more currencies in the future. SGB is also integrating Kraken Prime, Payward’s prime brokerage service, as a liquidity source for its own digital asset offerings.

SGB Net, which launched in 2025, now handles over $20 billion in monthly fiat transactions, showcasing its growing role in the financial ecosystem.