Payward, the financial infrastructure company behind crypto exchange Kraken, has integrated Singapore Gulf Bank's real-time clearing network to enable institutional clients to settle digital-asset transactions and fund trading around the clock, the firms announced on Sunday.
The service launches with U.S. dollar transactions for select clients in eligible Asian and Gulf region jurisdictions, with plans to expand to additional clients and currencies over time.
Addressing Banking Constraints
The partnership targets a structural mismatch in cryptocurrency markets. While digital assets trade continuously throughout weekends and holidays, traditional banking settlement operates only during business hours, leaving deposited funds unavailable until the next banking day.
Through SGB Net, Payward's real-time clearing network, institutional clients can deposit funds and use them immediately for trading, bypassing standard bank cut-off times and multi-day settlement delays.
"Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint: settlement stops when the business day does, while their markets do not," said Mark Greenberg, Payward's chief commercial officer.
Network Scale and Expansion
SGB Net, launched in 2025, processes more than $20 billion in fiat transactions monthly. The partnership connects settlement infrastructure with Kraken Prime's institutional liquidity.
Payward and Singapore Gulf Bank did not disclose the number of clients in the initial rollout or transaction volumes. The firms plan to expand the service over time to reach additional institutional clients and support more currencies.
