Payward, the parent company of crypto exchange Kraken, has partnered with Singapore Gulf Bank (SGB) to provide round-the-clock digital asset settlement for institutional clients across Asia and the Gulf region.

The arrangement connects Payward to SGB Net, the bank's real-time, multi-currency clearing network. The service initially supports U.S. dollar transactions for a select group of clients, and the companies plan to onboard additional customers and currencies over time.

The move addresses a longstanding friction point for digital asset firms: crypto markets operate continuously, while traditional banking rails often follow business hours and settlement cutoffs. In practice, that mismatch has left institutions unable to move funds on weekends and holidays while crypto trading continues uninterrupted.

Always-On Settlement for Institutions

Under the agreement, eligible SGB clients can deposit funds with Payward and deploy that capital instantly, including outside normal banking hours. The partnership offers 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. According to the bank, the network now processes more than $20 billion in fiat transactions each month.

SGB is also set to connect with Kraken Prime, Payward's institutional prime brokerage platform, to obtain digital asset liquidity. The bank plans to use Payward's markets to help price digital asset trades for its customers. The go-live of that connection, along with the onboarding of new currencies, will indicate how quickly the service expands beyond its initial select group.

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, management and institutional services. By wiring directly into a bank's clearing network, Payward is extending that strategy to the fiat side of its platform.

For institutional investors, faster movement between fiat and digital assets could improve capital efficiency and reduce delays when markets move sharply. The new settlement service, however, initially applies only to selected clients and jurisdictions.

The partnership also reinforces 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.