SYDNEY – October 04, 2026 -- Payward, the financial infrastructure platform behind Kraken, has partnered with Singapore Gulf Bank (SGB) to enable round-the-clock settlement for institutional digital asset clients in Asia and the Gulf region.
Payward integrates SGB Net to eliminate banking cut-off times
Payward has connected to SGB Net, the bank's real-time multi-currency clearing network, allowing institutional clients of both firms to settle transactions instantly, 24 hours a day, seven days a week. The offering initially covers US dollar transactions for a select number of clients, with plans to add more clients and currencies over time. Through SGB Net, an SGB client can deposit funds with Payward and deploy them immediately, at any hour, rather than waiting on traditional banking cycles that have historically taken days.
SGB Net already processes $20 billion in monthly fiat transactions
SGB launched SGB Net in 2025 to serve digital asset businesses with growing operational demands, and the network now processes more than $20 billion in fiat transactions each month. SGB is backed by Mumtalakat, Bahrain's sovereign wealth fund, and Singapore's Whampoa Group, and operates under full regulation from the Central Bank of Bahrain.
SGB taps Kraken Prime for digital asset liquidity
SGB is also onboarding Kraken Prime, Payward's full-service prime brokerage solution, as a liquidity source for its digital asset offerings. Over the coming months, SGB will draw on Payward's markets to price trades for its own customers, combining settlement infrastructure with direct access to trading liquidity.
"Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint. Settlement stops when the business day does, while their markets do not," said Mark Greenberg, Chief Commercial Officer of Payward.
SGB Chief Executive Officer Shawn Chan said access to liquidity is only useful if clients can move funds when needed, noting that the partnership connects settlement and liquidity more directly for clients managing digital asset activity across borders.
Partnership extends Payward Banking's cross-border reach
The tie-up forms part of Payward Banking, the money layer underpinning the Payward platform that handles deposits, payments, cards, custody and lending. Payward said it will continue adding regulated banking partners to expand real-time settlement and cross-border payment capabilities to institutional clients worldwide.