Payward and Singapore Gulf Bank Launch 24/7 Crypto Settlement for Institutions
Payward, the parent company of crypto exchange Kraken, has partnered with Singapore Gulf Bank to provide round-the-clock digital asset settlement for institutional clients across Asia and the Gulf region.
The partnership connects Payward to SGB Net, Singapore Gulf Bank’s real-time, multi-currency clearing network. The service initially supports U.S. dollar transactions for a select group of clients. The companies plan to add more customers and currencies over time.
The move addresses a longstanding problem for digital asset firms. Crypto markets operate continuously, while traditional banking rails often follow business hours and settlement cutoffs.
Always-on settlement for institutions
Under the arrangement, eligible SGB clients can deposit funds with Payward and deploy that capital instantly, including outside normal banking hours.
The partnership provides several potential benefits:
- 24/7 settlement for eligible institutional transactions
- Initial support for U.S. dollar transfers
- Access to additional currencies as the service expands
- Direct connectivity between banking and digital asset infrastructure
Singapore Gulf Bank launched SGB Net in 2025 to support digital asset businesses with real-time clearing and settlement. The bank says the network now processes more than $20 billion in fiat transactions each month.
The bank is also set to connect with Kraken Prime, Payward’s institutional prime brokerage platform, to obtain digital asset liquidity. It plans to use Payward’s markets to help price digital asset trades for its customers.
Payward expands financial infrastructure
The deal forms part of Payward’s broader push beyond cryptocurrency trading infrastructure. CoinDesk recently reported that Payward is seeking to build a wider financial infrastructure platform spanning trading, payments, asset management and institutional services.
For institutional investors, faster movement between fiat and digital assets could improve capital efficiency and reduce delays when markets move sharply. However, the new settlement service initially applies only to selected clients and jurisdictions.
The partnership also strengthens the financial connection between Asian and Gulf markets, where demand for regulated digital asset infrastructure continues to grow. Payward and Singapore Gulf Bank said they expect to broaden the service as additional clients and currencies come online.
