Payward and Singapore Gulf Bank Team Up for 24/7 Institutional Settlements

Payward, the parent company of the cryptocurrency exchange Kraken, has formed a strategic partnership with Singapore Gulf Bank (SGB) to offer 24/7 real-time settlement services for institutional investors in Asia and the Gulf region.

The collaboration integrates SGB’s real-time multicurrency clearing network, SGB Net, into Payward’s system. This integration allows institutional clients in select countries to access instant settlements at any time. Initially, the service will support U.S. dollar transactions for a limited group of clients, with plans to expand both the client base and the range of supported currencies in the future.

SGB will also connect to Kraken Prime, Payward’s platform for institutional investors. This connection provides SGB with access to digital-asset liquidity and leverages Kraken’s infrastructure for functions such as trade pricing for its clients.

The partnership aims to bridge traditional finance’s multicurrency settlement network with digital-asset trading infrastructure, enhancing institutional clients’ access to fund settlement and digital-asset trading.