Payward, the parent company of crypto exchange Kraken, has announced a strategic partnership with Singapore Gulf Bank (SGB) to provide 24/7 instant settlement for institutional digital asset clients in selected Asian and Gulf markets. The collaboration connects Payward to SGB Net, SGB's real-time, multi-currency clearing network, according to an official announcement.

The service will initially support U.S. dollar transactions for a select group of clients, with the companies planning to onboard more clients and additional currencies over time. The arrangement targets a long-standing friction point for institutional traders: the mismatch between fixed banking hours and digital asset markets that never close. In cross-border corridors, that mismatch has traditionally been compounded by correspondent banking chains, which add processing steps and time-zone dependencies to fiat transfers.

Kraken, founded in 2011, is among the longest-established cryptocurrency exchanges.

How Payward's 24/7 Settlement Network Works

SGB Net allows institutional clients to move funds between banking and digital asset infrastructure without waiting for traditional banking cut-off times. Historically, bank settlement has followed business hours and fixed processing windows, while digital asset markets operate continuously throughout the week.

Under the new arrangement, an SGB client can deposit funds with Payward and deploy them instantly, which could reduce the delays that typically occur between funding an account and gaining access to digital asset markets. For trading desks, that interval carries operational weight: because digital asset prices can move at any hour, the time capital spends in transit between a bank and an exchange is itself a variable institutions have to manage.

The initial rollout covers U.S. dollar transactions for selected clients in specific jurisdictions across Asia and the Gulf region. Payward and SGB plan to expand the service over time, adding clients and currencies as the partnership matures.

SGB Net launched in 2025 to serve digital asset businesses with increasing operational requirements. According to the companies, the network now processes more than $20 billion in fiat transactions each month.

The partnership also links SGB with Kraken Prime, Payward's full-service prime brokerage platform. Prime brokerage arrangements of this kind consolidate liquidity, execution, and related services so institutions can manage digital asset activity through a single counterparty. SGB will use Kraken Prime as an additional source of digital asset liquidity and pricing for its customers.

News of the partnership was shared by blockchain media outlet Wu Blockchain on X on October 5, 2026:

Kraken parent company Payward and Singapore Gulf Bank (SGB), a fully licensed digital bank regulated by the Central Bank of Bahrain, have announced a strategic partnership. Payward has integrated SGB's real-time, multi-currency clearing network, SGB Net, to provide institutional… — Wu Blockchain (@WuBlockchain) October 5, 2026

Payward Banking Expansion Connects Settlement and Liquidity

The partnership extends Payward's broader effort to strengthen its banking infrastructure for institutional clients. Payward Banking serves as the money layer supporting deposits, payments, cards, custody, and lending across the platform. Adding regulated banking partners can help connect traditional financial services with digital asset markets that operate around the clock. Regulated banking access has historically been one of the more persistent operational hurdles for digital asset businesses, which is why licensed counterparties are a key piece of institutional infrastructure.

For institutional traders, the key change is the timing of capital movement. Faster settlement can allow eligible clients to fund digital asset activity without waiting for the next window.

SGB is a fully licensed digital bank regulated by the Central Bank of Bahrain. It is backed by Bahrain's sovereign wealth fund Mumtalakat and Singapore's Whampoa Group.

SGB Chief Executive Officer Shawn Chan said liquidity becomes more useful when clients can move funds when needed. The partnership therefore combines two important components of institutional crypto infrastructure: access to liquidity and access to settlement.

For traders and institutions, the immediate offering remains limited to selected clients and U.S. dollar transactions. Its broader significance will depend on whether Payward expands access across additional jurisdictions and currencies, making the pace of new client onboarding and currency additions the practical markers to follow as the partnership develops.

Operationally, SGB Net handles real-time fiat clearing across multiple currencies, while Kraken Prime provides digital asset market access, liquidity, and pricing. Together, the two systems are designed to bring banking settlement closer to the continuous operating model of crypto markets.

Source: Blockonomi