Payward Partners with Singapore Gulf Bank for 24/7 USD Settlement in Crypto Markets

This partnership addresses the critical gap between the continuous operation of cryptocurrency markets and the limitations of traditional banking hours.

• Payward announced integration with Singapore Gulf Bank’s SGB Net for 24/7 USD settlement on October 5, 2026.
• Eligible institutional clients can now settle U.S. dollar transactions instantly, bypassing traditional banking cutoffs.
• SGB Net processes approximately $20 billion monthly in fiat transactions, enhancing liquidity for digital asset activities.

• Cryptocurrency markets operate continuously, including weekends, while traditional banking systems are limited by business hours.
• SGB Net, launched in May 2025, is a real-time clearing network designed to bridge conventional and digital finance.
• Payward's integration with SGB Net allows for immediate fund availability for trading, enhancing operational efficiency for select clients.

On October 4-5, 2026, Payward, the parent company of the Kraken cryptocurrency exchange, announced a strategic partnership with Singapore Gulf Bank (SGB) to integrate its SGB Net real-time clearing network. This integration is a significant step towards enabling 24/7 institutional fiat settlement for U.S. dollar transactions, addressing a long-standing issue in the cryptocurrency market: the mismatch between the continuous trading environment and the rigid schedules of traditional banking systems.

The cryptocurrency market operates around the clock, including weekends and holidays, while traditional banks typically have set hours and multi-day processing times for transactions. This discrepancy has often led to delays and inefficiencies for institutional clients looking to engage in digital asset trading. By integrating SGB Net, Payward allows eligible clients to deposit funds for immediate use in trading, effectively bypassing the limitations imposed by traditional banking cutoffs.

SGB Net, which has been operational since May 2025, has already scaled significantly, processing around $20 billion in fiat transactions monthly. This robust infrastructure positions it as a key player in facilitating seamless transactions between conventional and digital finance. The initial rollout of this service focuses on U.S. dollar transactions for select institutional clients in eligible jurisdictions across Asia and the Gulf region. The partnership also includes the onboarding of Kraken Prime as a liquidity source, which will enhance the pricing and execution of client trades.

While the initial phase is limited, the potential for expansion into additional currencies and a broader client base is on the horizon. This integration not only enhances liquidity for digital asset activities but also sets a precedent for future collaborations between traditional banks and cryptocurrency platforms, paving the way for more integrated financial ecosystems.

• Institutional traders: They will benefit from immediate access to funds for trading, reducing delays.
• Financial institutions in Asia and the Gulf: They can leverage this service for enhanced liquidity and operational efficiency.
• Cryptocurrency exchanges: Platforms like Kraken will see increased trading volumes and client engagement.

• Client adoption rates: Monitoring how quickly institutional clients begin utilizing this service will indicate its success and impact on the market.
• Expansion announcements: Any news regarding the rollout to additional currencies or broader client access will signal the integration's growth.
• Market reactions: Observing how other financial institutions respond to this partnership could reveal trends in the evolving relationship between traditional finance and cryptocurrency.