Payward, the parent company of the cryptocurrency exchange Kraken, has partnered with Singapore Gulf Bank (SGB) to offer 24/7 instant settlement services for institutional digital asset clients. The integration connects Payward to SGB Net, a real-time, multi-currency clearing network.
Initially, the service supports U.S. dollar transactions for a select group of institutional clients across targeted Asian and Gulf markets, with plans for future expansion to include additional clients and currencies.
Bridging Traditional Banking and Digital Assets
Traditional banking settlement typically relies on business hours and fixed processing windows, whereas digital asset markets operate continuously. SGB Net aims to bridge this gap by enabling clients to move funds between traditional banking and digital asset infrastructure outside of conventional banking hours, allowing deposits with Payward to be deployed instantly.
Launched in 2025 for digital asset businesses, SGB Net currently processes over $20 billion in fiat transactions monthly. SGB is a fully licensed digital bank regulated by the Central Bank of Bahrain, and it is backed by Bahrain’s sovereign wealth fund Mumtalakat alongside Singapore’s Whampoa Group.
Liquidity and Clearing Integration
As part of the strategic collaboration, SGB will utilize Kraken Prime—Payward's full-service prime brokerage platform—as an additional source of digital asset liquidity and pricing for its customers.
SGB Chief Executive Officer Shawn Chan noted that the partnership combines liquidity access with real-time settlement capabilities. The initiative forms part of Payward's broader effort to expand its institutional banking infrastructure, which supports deposits, payments, cards, custody, and lending across the platform.
