WuBlockchain
Payward, the parent company of Kraken, has integrated Singapore Gulf Bank’s SGB Net clearing network to offer 24/7 instant settlement to institutional clients in selected jurisdictions across Asia and the Gulf. The service will initially support U.S. dollar transactions for select clients.
Why it matters
The partnership connects a licensed bank’s real-time, multi-currency clearing network with Payward’s institutional infrastructure. Around-the-clock settlement can give eligible clients a way to move dollars outside traditional banking hours, while plans call for expanding access to more clients and adding currencies.
Market impact
The relationship also runs in the other direction: Singapore Gulf Bank will connect to Payward’s Kraken Prime to access digital-asset liquidity and price trades for its clients. That gives the bank a route into digital-asset markets while tying Payward’s institutional offering to regional banking rails.
The initial rollout is limited to select clients and U.S. dollar transactions. Its broader reach will depend on the planned client and currency expansions.
Source: [Kraken Parent Payward Partners with Singapore Gulf Bank to Offer 24/7 Settlement for Institutional Digital Asset Markets](https://www.wublockchain.xyz/news/payward-kraken-parent-partners-with-singapore-gulf-bank-24-7-settlement-21110)
Frequently asked questions
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What settlement service will Payward offer through SGB Net?
Payward has integrated Singapore Gulf Bank’s real-time clearing network to provide 24/7 instant settlement to institutional clients in selected jurisdictions across Asia and the Gulf.
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Which currency will the service support at launch?
The initial service will support U.S. dollar transactions for select clients.
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How will Singapore Gulf Bank use Kraken Prime?
Singapore Gulf Bank will connect to Payward’s Kraken Prime to access digital-asset liquidity and price trades for its own clients.
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Who can initially use the settlement service?
The service is initially for select institutional clients in specific jurisdictions across Asia and the Gulf.
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What expansions are planned for the partnership?
Payward plans to expand access to more clients and support additional currencies. The service begins with select clients and U.S. dollar transactions.
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