Kraken Parent Payward Adds 24/7 Settlement With Singapore Gulf Bank

Kraken parent company Payward has partnered with Singapore Gulf Bank (SGB) to introduce round-the-clock settlement for institutional digital asset transactions, strengthening the exchange’s connection to regulated banking infrastructure.

Payward announced on October 5 that it integrated SGB Net, Singapore Gulf Bank’s real-time, multi-currency clearing network. The integration allows eligible institutional clients of both companies to settle qualifying transactions instantly, 24 hours a day and seven days a week.

The service initially supports U.S. dollar transactions for selected clients in approved jurisdictions. Payward and SGB plan to expand access to additional customers and currencies over time. Through SGB Net, bank clients can transfer funds to Payward and deploy the capital immediately without being restricted by traditional banking cut-off times.

Singapore Gulf Bank is also onboarding Kraken Prime, Payward’s institutional prime brokerage platform, as another source of digital asset liquidity. SGB expects to begin using Payward’s markets to price cryptocurrency trades for its customers in the coming months.

Payward Chief Commercial Officer Mark Greenberg said exchanges, payment companies, OTC desks and fintech firms face a common problem because traditional settlement stops outside banking hours while digital asset markets operate continuously. He said SGB’s infrastructure better reflects the requirements of modern crypto banking and payments.

The partnership adds to Payward’s recent expansion of institutional banking and settlement services as the Kraken operator moves toward a potential public listing.

Payward recently partnered with SoFi Technologies to provide 24/7 U.S. dollar settlement. Kraken also listed SoFi’s bank-issued SoFiUSD stablecoin, while SoFi began accessing digital asset liquidity through Kraken Prime.

Payward has also reportedly held private discussions with BNY over a broader partnership involving digital assets, custody, trading, wealth management and payments through Payward Services.

Meanwhile, Nasdaq is investing in Payward as the companies deepen their cooperation on financial infrastructure for tokenized equities, including trading, clearing and settlement. Together, these partnerships highlight Payward’s effort to connect traditional banking infrastructure with always-on institutional crypto markets.