Payward and Singapore Gulf Bank Enable 24/7 USD Settlements for Crypto Institutions
Payward, the company behind the crypto exchange Kraken, has teamed up with Singapore Gulf Bank (SGB) to offer 24/7 U.S. dollar settlement services for select institutional clients in Asia and the Gulf region. The partnership, announced on October 5, integrates SGB Net, the bank’s real-time multi-currency clearing network, enabling around-the-clock settlement for eligible clients. This move addresses the long-standing challenge of traditional banking hours limiting crypto transactions, allowing institutional clients to trade digital assets without waiting for standard banking operations.
SGB Net, which processes over $20 billion in monthly fiat transactions, provides the infrastructure for instant U.S. dollar transfers. The integration with Kraken Prime, Payward’s institutional prime brokerage platform, ensures continuous liquidity and reduces delays between fiat banking activity and digital-asset trading. The service is currently limited to U.S. dollar transactions for a select group of institutional customers, with plans to expand to additional currencies and clients in the future.
Payward Chief Commercial Officer Mark Greenberg highlighted that the partnership helps overcome common banking constraints for crypto businesses, where settlement often remains tied to business-hour schedules. SGB Chief Executive Officer Shawn Chan emphasized that access to liquidity is only valuable when clients can move funds as needed, noting that the connection between SGB Net, Payward, and Kraken Prime brings settlement and liquidity closer together for managing digital-asset activity.
The collaboration follows Payward’s broader expansion of infrastructure connecting fiat and digital-asset markets. Earlier in 2026, SGB joined J.P. Morgan’s correspondent banking network and adopted Wire 365 for continuous U.S. dollar clearing. Additionally, SGB has previously partnered with Binance Bahrain to enable direct U.S. dollar transfers, further integrating traditional banking with digital assets.