CoinDesk
Payward, the financial infrastructure company behind Kraken, has integrated Singapore Gulf Bank’s SGB Net clearing network to let select institutional clients settle eligible digital-asset transactions and fund trading around the clock. The initial rollout supports U.S. dollar transactions in eligible Asian and Gulf jurisdictions, including on non-banking days. The firms plan to add clients and currencies over time.
Why it matters
Crypto markets trade continuously, but conventional banking cut-off times can delay access to the cash needed to fund trades. Through SGB Net, clients can deposit funds with Payward and use them immediately, addressing a settlement mismatch that affects exchanges, payment providers, OTC desks and fintechs.
The partnership also extends Payward’s role beyond Kraken’s exchange business into financial infrastructure spanning trading, custody, payments and banking. For Singapore Gulf Bank, connecting its settlement network with Kraken Prime’s liquidity gives institutional clients a way to move cash and trade without waiting for the next banking day.
Market impact
The rollout is limited to select clients at launch, and the firms have not disclosed the number of participants or transaction volumes. SGB Net, launched in 2025, processes more than $20 billion in fiat transactions each month, according to the bank.
The service’s initial reach is confined to eligible jurisdictions in Asia and the Gulf, with U.S. dollars as the supported currency. Planned additions of clients and currencies could broaden the network’s reach, while the initial deployment puts around-the-clock fiat settlement directly alongside institutional crypto trading.
Frequently asked questions
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How does Payward’s partnership with Singapore Gulf Bank support around-the-clock settlement?
Payward integrated SGB Net, Singapore Gulf Bank’s real-time clearing network, so select clients can deposit funds and use them immediately to settle eligible digital-asset transactions and fund trading.
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Which currencies and regions are included in the initial rollout?
The initial service supports U.S. dollar transactions for select clients in eligible jurisdictions in Asia and the Gulf.
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Why does 24/7 fiat settlement matter to institutional crypto traders?
Crypto markets trade continuously, while traditional banking cut-off times can delay access to cash. The service is designed to let clients fund trading without waiting for the next banking day.
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What is SGB Net’s reported transaction scale?
Singapore Gulf Bank says SGB Net, launched in 2025, processes more than $20 billion in fiat transactions each month.
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Will the settlement service expand beyond its initial launch?
Payward and Singapore Gulf Bank plan to add clients and currencies over time. They have not disclosed the number of clients in the initial rollout or transaction volumes.
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