Payward and Singapore Gulf Bank Partner for 24/7 Settlements

• Payward and SGB launched 24/7 settlement for institutional digital asset markets.
• The service initially supports USD transactions for select clients.

Payward, the financial infrastructure firm operating Kraken, joined forces with Singapore Gulf Bank (SGB) to deliver continuous, around-the-clock settlement for institutional digital asset markets, per an October 5, 2026 announcement.

Through this collaboration, Payward adopted SGB Net, which is SGB’s real-time, multi-currency clearing network. This integration enables qualifying institutional customers of both organizations to execute instant settlements at any hour of the day or night, seven days a week.

Initially, the offering focuses on U.S. dollar transfers and serves a curated group of institutional users located in eligible areas throughout Asia and the Gulf. Both companies indicated intentions to expand the features to a broader audience and additional currencies eventually, though an exact timeline was not provided.

This setup permits an SGB client to deposit capital with Payward and instantly utilize those funds, even outside standard banking hours. Such functionality bridges the gap between digital asset markets—which function without interruption—and traditional banking frameworks that typically depend on restricted processing schedules.

SGB Adds Kraken Prime for Digital Asset Liquidity

Additionally, the agreement incorporates Kraken Prime, which is Payward’s institutional prime brokerage service. SGB intends to leverage Kraken Prime as an extra liquidity provider for digital assets and will utilize Payward’s marketplaces to price trades for its clientele in the months ahead.

Established in 2025 to supply real-time clearing services for digital asset businesses, SGB Net currently handles monthly fiat transactions exceeding $20 billion, according to the bank. SGB receives financial backing from Mumtalakat, Bahrain’s sovereign wealth fund, alongside the Singapore-based Whampoa Group.

The Central Bank of Bahrain licenses and regulates SGB. The institution delivers multi-currency accounts, international payment capabilities, and digital asset solutions to qualified corporate and individual clients.

For Payward, this pact integrates into its wider Payward Banking framework, which manages cash operations encompassing deposits, payments, cards, custody, and lending. Furthermore, Payward has grown its banking network throughout the year, featuring a September alliance with SoFi geared toward 24/7 U.S. dollar settlement.

Frequently Asked Questions

What is the main goal of the partnership between Payward and Singapore Gulf Bank?

The partnership aims to enable 24/7 settlement for institutional digital asset markets by integrating SGB Net, SGB’s real-time, multi-currency clearing network, into Payward’s infrastructure.

Which currencies and clients are supported initially?

The initial phase supports U.S. dollar transactions for a select group of institutional clients in supported jurisdictions across Asia and the Gulf region.

What role does Kraken Prime play in this agreement?

SGB will use Kraken Prime, Payward’s institutional prime brokerage platform, as an additional source of digital asset liquidity and plans to draw on Payward’s markets to price customer trades in the coming months.

Who backs Singapore Gulf Bank?

SGB is backed by Bahrain’s sovereign wealth fund, Mumtalakat, and the Singapore-based Whampoa Group, and it is licensed and regulated by the Central Bank of Bahrain.