Payward and SGB Partner for Instant Crypto Settlement Service

Payward, the parent company of Kraken, has teamed up with Singapore Gulf Bank (SGB) to introduce 24/7 instant settlement services for institutional cryptocurrency clients in select Asian and Gulf markets. This collaboration connects Payward to SGB Net, SGB’s real-time, multi-currency clearing network, initially supporting U.S. dollar transactions for a curated group of clients.

The new service aims to bridge the gap between traditional banking hours and the continuous operation of digital asset markets. SGB Net enables institutional clients to move funds instantly between banking systems and digital asset platforms, eliminating delays typically associated with banking cut-off times. This capability is particularly valuable for traders who need to fund their accounts and access digital asset markets without waiting for the next banking window.

SGB Net, launched in 2025, processes over $20 billion in fiat transactions monthly. The partnership also integrates Kraken Prime, Payward’s prime brokerage platform, which provides SGB customers with additional liquidity and pricing data for digital assets. This collaboration aligns with Payward’s broader strategy to enhance its banking infrastructure for institutional clients, connecting traditional finance with the always-on nature of crypto markets.

While the initial rollout is limited to selected clients and U.S. dollar transactions, both companies plan to expand the service over time. SGB Chief Executive Officer Shawn Chan emphasized that the partnership combines critical elements of institutional crypto infrastructure: access to liquidity and efficient settlement.