Kraken Parent Company Introduces 24/7 USD Settlement with Singapore Gulf Bank
Payward, the parent company of cryptocurrency exchange Kraken, has partnered with Bahrain-regulated Singapore Gulf Bank (SGB) to offer 24/7 US dollar settlement services to select institutional clients across Asia and the Gulf region. By integrating with SGB’s real-time clearing system, SGB Net, clients can settle transactions instantly, with plans to expand the service to more clients and additional currencies in the near future.
Partnership and Client Offerings
Payward has integrated Singapore Gulf Bank’s real-time clearing platform, SGB Net, enabling select institutional investors in Asia and the Gulf region to perform US dollar settlements around the clock. The company announced plans to broaden the service to more clients and multiple currencies in the future.
Additionally, Singapore Gulf Bank will gain access to digital asset liquidity through Payward’s prime brokerage arm, Kraken Prime, which will allow the bank to use Payward’s markets for pricing customer trades in the coming months.
Market Trends Toward 24/7 Settlement
Leading banks and financial firms are developing similar innovations to accelerate settlement speeds and extend operational hours beyond the traditional business day. A consortium comprising JPMorgan Chase, Bank of America, and Barclays intends to launch a tokenized deposit network operated by The Clearing House in the first half of 2027, facilitating 24/7 settlement.
In Japan, Circle and Nomura reportedly plan to offer companies instant foreign exchange settlement services starting in 2027. Furthermore, on September 21, the Bank of Korea unveiled a pilot program to allow foreign investors to settle won transactions outside of regular banking hours.
Why it matters
This news highlights the evolving financial infrastructure where crypto companies and traditional banks collaborate to offer 24/7 instant US dollar settlement. This development particularly benefits institutional investors in Asia and the Gulf region—areas with active financial flows and significant time zone differences. The partnership between Payward and Singapore Gulf Bank exemplifies the integration of crypto exchanges with mainstream banking systems and the expansion of digital asset liquidity for traditional financial institutions.
Prepared from the source material with AI-assisted editing and checked against the supplied facts.
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