Payward enables 247 USD settlement via SGB Net integration

Payward, Inc., the company behind the Kraken exchange, has integrated Singapore Gulf Bank’s SGB Net to enable 24/7 instant settlement for USD transactions. This integration, initially available to select clients, aims to reduce funding latency for institutional crypto traders, potentially boosting trading volumes and improving spreads.

The move allows SGB Net to access Kraken Prime liquidity, which could direct more order flow to Payward-linked venues and enhance liquidity depth. SGB Net currently processes $20 billion in fiat transactions monthly, suggesting a robust capacity to handle higher transaction volumes.

Payward plans to expand the service to include more currencies in the future, which would broaden the service’s appeal and facilitate cross-border transactions. The integration is part of Payward’s efforts to align fiat movement with the 24/7 nature of crypto markets, potentially acting as a catalyst for broader client adoption and revenue growth.