Payward and Singapore Gulf Bank launch 24/7 institutional crypto settlement
Image: Crypto.newsPayward, Kraken's parent company, announced an October 4 2026 partnership with Singapore Gulf Bank (SGB) for 24/7 U.S. dollar digital asset settlement for institutional clients in Asia and the Gulf. The service integrates SGB Net, a real-time multi-currency clearing network, into Payward's infrastructure, with liquidity from Kraken Prime, Payward's institutional prime brokerage arm. SGB is a Central Bank of Bahrain regulated digital bank whose SGB Net processes over $20 billion in fiat monthly. The initial rollout is limited to a small client group, with more currencies and participants planned later.
Key points
- Payward partnered with Singapore Gulf Bank to offer 24/7 USD digital asset settlement for institutional clients in Asia and the Gulf
- The service integrates SGB Net, SGB's real-time multi-currency clearing network, with Payward's infrastructure
- Kraken Prime, Payward's institutional prime brokerage arm, provides liquidity for the settlement service
- The initial rollout is limited to a select group of clients, with more currencies and participants planned later
Why it matters
The partnership addresses a common friction point for institutional crypto traders, where traditional banking cut-off times can delay fund transfers and cause missed trading opportunities. It expands 24/7 fiat settlement access for institutional users in the targeted regions.
What's unclear
No timetable was provided for adding more settlement currencies or expanding the initial client group
The number of initial launch institutions, expected trading volume and supported cryptocurrencies were not disclosed
Sources · 2 publishers
Crypto.news
Tier 2
Kraken parent Payward and SGB launch 24/7 settlement for institutions
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Crypto.news
- 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
