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Payward and Singapore Gulf Bank Partner to Bring 24/7 Settlement to Institutional Digital Asset Markets
The network starts with U.S. dollar transactions for select clients and will expand to more currencies and users over time, the companies said.
- On Monday, October 5, 2026, Payward and Singapore Gulf Bank announced a partnership enabling 24/7 instant settlement for institutional clients in Asia and the Gulf through integration of SGB Net.
- Traditional banking settlement historically stops when the business day ends, creating constraints for digital asset firms that trade continuously; Payward Chief Commercial Officer Mark Greenberg stated this mismatch necessitates always-on banking infrastructure.
- Singapore Gulf Bank launched SGB Net in 2025, and the network now processes more than $20 billion in fiat transactions monthly; the bank will onboard Kraken Prime as an additional liquidity source.
- The service currently supports U.S. dollar transactions for select institutional customers, with plans to expand to additional currencies in coming months, as SGB CEO Shawn Chan stated, "Clients can move funds when they need to."
- Mirroring an earlier 24/7 settlement agreement with SoFi, this partnership reflects Payward's broader institutional expansion; separately, the firm has sought a federal crypto trust charter from the Office of the Comptroller of the Currency.
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Payward and Singapore Gulf Bank Partner to Bring 24/7 Settlement to Institutional Digital Asset Markets
/PRNewswire/ -- Payward, the unified financial infrastructure platform behind Kraken, and Singapore Gulf Bank (SGB), a fully licensed digital bank regulated by...
·Chicago, United States
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Illustrative image Photo: PexelsPayward, owner of Kraken, integrates Singapore Gulf Bank network for 24-hour crypto settlement
Payward and Singapore Gulf Bank have launched 24/7 dollar collection for institutional crypto clients; the SGB Net network clears $20 billion in fiat currency per month.
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