Payward, Singapore Gulf Bank add 24/7 crypto settlement

Payward, the company behind Kraken, has integrated Singapore Gulf Bank’s settlement network to let some institutional clients move dollars around the clock, the firms announced on October 5. The service aims to let clients fund digital asset trades without waiting for banking hours.

How will clients move funds at any hour?

Payward has connected to SGB Net, the bank’s real-time clearing network, which processes payments between financial institutions. According to the announcement, an SGB client can deposit funds with Payward and use them instantly. The service starts with U.S. dollar transactions for a select group of clients, with more clients and currencies planned.

The rollout is limited to eligible jurisdictions in Asia and the Gulf region. Neither company named the initial clients or said how much they are expected to transfer. CoinDesk also reported that the firms did not disclose initial client numbers or transaction volumes.

Why connect settlement to crypto trading?

Crypto markets run around the clock, while bank payments often follow business hours and cut-off times. That gap can leave firms unable to move cash when they want to trade. Payward and SGB say the link will allow eligible clients to settle transactions at any hour, including outside normal banking days.

SGB said its network, launched in 2025, processes more than $20 billion in fiat transactions each month. Fiat is government-issued money such as U.S. dollars. That figure describes SGB Net overall, not the expected volume of this partnership.

What role will Kraken Prime play?

SGB is also partnering with Kraken Prime, Payward’s prime brokerage service, to access liquidity for its digital asset offerings. In the coming months, SGB plans to use Payward’s markets to price trades for its customers, according to the announcement.

Sources and documents

• announced on October 5 — sgb.com
• CoinDesk also reported — coindesk.com