Payward, the parent company of cryptocurrency exchange Kraken, has teamed up with Singapore Gulf Bank to offer 24/7 settlement services for institutional clients. The partnership gives large-scale crypto market participants continuous access to settlement, removing the delays tied to traditional banking hours and bringing always-on capability to a process that has long depended on business-day schedules.

Payward and Gulf Bank Announce 24/7 Settlement

Payward, which owns and operates the Kraken cryptocurrency exchange, worked with Singapore Gulf Bank to launch the settlement offering. The service is built specifically for institutional clients—banks, funds, and large trading firms—rather than everyday retail users.

The defining feature of the arrangement is round-the-clock availability. Settlement between financial institutions has traditionally followed business hours and banking windows. Under a 24/7 model, institutional clients can settle transactions on weekends, public holidays, and outside standard market hours.

What the Settlement Service Means for Institutional Clients

Settlement is the final step in a trade: the moment when assets and funds actually change hands. In traditional arrangements, that step waits for business days and banking windows. Crypto markets, by contrast, trade around the clock without the fixed opening and closing sessions that govern traditional exchanges, so a trade agreed on a Saturday or outside banking hours has historically sat unsettled until the next business day. Delays create risk because prices can move between the time a trade is agreed and the time it clears. Always-on settlement narrows that exposure window for large market participants.

Institutional clients operating across multiple time zones stand to benefit most. A fund based in Europe trading with a counterparty in Asia, for instance, no longer needs to wait for overlapping business hours to complete a transaction, since the service operates continuously regardless of local banking calendars. The arrangement mirrors a broader push by major crypto firms to meet institutional finance standards, including moves by major banks exploring stablecoin-based settlement rails.

Why the Payward-Bank Partnership Matters for Crypto Market Infrastructure

Payward's involvement signals that Kraken, one of the longer-standing crypto exchanges, is deepening its institutional-grade financial infrastructure. Pairing with a licensed bank rather than a crypto-native firm adds a layer of regulated financial credibility to the settlement offering.

Singapore Gulf Bank's participation places the launch within the Gulf and Southeast Asian institutional finance corridor, regions where regulated crypto infrastructure has been expanding. The bank-exchange partnership model echoes a wider trend of traditional and crypto financial institutions building shared rails, as seen when exchanges such as OKX have pursued institutional partnerships with established market operators. Asset managers have also accelerated their engagement, with BlackRock deepening its Bitcoin exposure as institutional appetite for crypto infrastructure grows. The next signals on this front are operational rather than market-driven: additional licensed banks extending settlement hours for institutional clients, and institutions describing how continuous settlement fits into their trading workflows.

For anyone holding crypto through a retail platform, the announcement does not directly change the day-to-day experience. Its significance lies at the infrastructure layer, making the plumbing of large crypto trades faster, more reliable, and available at any hour.

Key Takeaways

• Partners: Payward (Kraken's parent company) and Singapore Gulf Bank
• Service: 24/7 settlement, meaning transactions can clear at any hour, on any day
• Target users: Institutional clients such as funds, banks, and large trading firms

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always conduct your own research before making decisions.