Kraken parent Payward partners with Singapore Gulf Bank for 24/7 USD settlements
Image: AMBCryptoOn October 5, Kraken's parent company Payward announced a partnership with Singapore Gulf Bank (SGB), a fully Central Bank of Bahrain-regulated licensed digital bank. The deal integrates SGB's SGB Net payment network into Payward's services to let Asia and Gulf-based institutions settle U.S. dollars 24/7, including after standard banking hours and on weekends. SGB Net processes over $20 billion in monthly fiat transactions. The partnership also connects SGB to Kraken Prime, following Payward's September SoFi 24/7 USD transfer agreement.
Key points
- Kraken's parent Payward announced a partnership with Singapore Gulf Bank on October 5
- Singapore Gulf Bank is a fully Central Bank of Bahrain-regulated licensed digital bank
- The deal lets Asia and Gulf-based institutions settle U.S. dollars 24/7, including after banking hours and weekends
- The partnership connects SGB to Kraken Prime, following Payward's September SoFi 24/7 USD transfer deal
Why it matters
The partnership addresses a long-standing mismatch between 24/7 crypto trading and limited traditional banking hours for institutional users. It expands Payward's global banking network for digital asset settlements, following its earlier SoFi deal.
Sources · 2 publishers
Blockonomi
Tier 3
Kraken Parent Payward Partners With Singapore Gulf Bank for 24/7 USD Settlements
Coverage timeline
- First reported by AMBCrypto
- Confirmed by Blockonomi
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
