Crypto markets operate continuously, but traditional banking services remain bound by business hours. Payward, the parent company of Kraken, announced a partnership on October 4, 2026, with Singapore Gulf Bank (SGB) to bridge that gap by offering 24/7 instant settlement for digital assets to institutional clients in Asia and the Gulf region.
The partnership integrates SGB Net, the bank's real-time multi-currency clearing network, into Payward's infrastructure. This arrangement allows institutions to move funds when market conditions demand it, rather than waiting for back office operations to resume on Monday morning.
How the partnership works
SGB Net is a clearing network that settles fiat transactions in real time across multiple currencies. Payward is connecting its systems to this network, with Kraken Prime, the company's institutional prime brokerage arm, providing liquidity for the arrangement. The service will launch with USD transactions and a limited group of clients before expanding to additional currencies and a broader client base.
Singapore Gulf Bank is a fully licensed digital bank regulated by the Central Bank of Bahrain. The bank launched corporate banking services in late 2024, with SGB Net going live in May 2025. According to the source, the network has processed over $2 billion in fiat transaction volume each month.
Addressing trading infrastructure constraints
Digital assets trade continuously throughout the year, while traditional banking infrastructure operates on scheduled business hours. This mismatch creates operational friction for institutions: a trading opportunity can disappear while waiting for a wire transfer to clear during the next business day. The Payward and SGB partnership directly targets this problem by enabling faster capital deployment.
Part of a broader expansion
This partnership follows Payward's September 2026 collaboration with SoFi for real-time USD settlement using the SoFi Exchange Network, applying a similar model to serve different geographic markets. SGB Net already maintains 24/7 partnerships with Cactus Custody and Fireblocks, both serving institutional players in the digital asset sector.
Implications
Institutional clients in Asia and the Gulf region stand as the primary beneficiaries, gaining the ability to fund positions and move capital at any time without waiting on traditional banking schedules. The decision to launch with USD reflects the currency's central role in global finance and crypto trading, addressing the largest immediate demand before expanding to additional currencies. The rollout begins with select clients, with future developments likely including announcements of additional clients, expansion to other currencies, and growth of Kraken Prime's liquidity offerings.
