Payward, the parent company of cryptocurrency exchange Kraken, has connected to Singapore Gulf Bank's SGB Net clearing network to offer 24/7 US-dollar funding rails for institutional clients across Asia and the Gulf. Under the partnership announced on Oct. 5, eligible institutional customers can deposit USD into Payward accounts at any hour and deploy the funds immediately for digital asset activity.
Continuous Institutional Dollar Settlement via SGB Net
Singapore Gulf Bank originally launched its SGB Net network on May 1, 2025. Payward's integration into this existing clearing system establishes an active settlement channel that eliminates standard banking cutoff times for participating institutions.
While the live connection provides immediate funding capabilities in US dollars, both companies noted that client eligibility is currently restricted to select institutions in eligible jurisdictions within Asia and the Gulf. The companies plan to expand access to additional institutional clients and support more fiat currencies over time, though no specific dates for these updates have been announced.
Kraken Prime Integration and Institutional Expansion
In addition to the instant settlement network, Singapore Gulf Bank is expanding its partnership with Kraken's institutional division, Kraken Prime. SGB intends to draw on Payward's market liquidity to price digital asset trades for its own bank customers over the coming months.
This continuous funding infrastructure mirrors broader industry initiatives aiming to modernize traditional financial rails, much like how ICE and OKX plan 24/7 tokenized venues to overcome legacy market operating hours.
Key Takeaways
- Payward connected to the SGB Net clearing network (launched May 1, 2025) to deliver 24/7 USD transfers.
- Selected institutional clients in Asia and the Gulf gain round-the-clock deposit and immediate capital deployment capabilities.
- SGB will leverage Kraken Prime liquidity to price digital asset trades for its customer base over the coming months.
Why It Matters
This integration highlights the growing demand for uninterrupted, 24/7 fiat settlement rails to match the non-stop trading cycle of digital asset markets. Traditional banking schedules frequently create funding delays and capital inefficiencies for institutional traders during weekends and off-hours. By combining instant dollar clearing with Kraken Prime liquidity, Singapore Gulf Bank is positioning itself as a key bridge between conventional banking infrastructure and institutional crypto markets across Asia and the Middle East.
