Payward, the parent company of crypto exchange Kraken, partnered with Singapore Gulf Bank (SGB) on October 5, 2026, to resolve a classic bottleneck in institutional transaction settlement. Select institutional clients across Asia and the Gulf region now gain access to 24/7 USD settlement - freeing them from rigid traditional banking hours.
“Settlement typically stops when the business day ends,” said Payward Chief Commercial Officer Mark Greenberg. Now, eligible institutional clients from both companies can settle transactions at any time via the SGB Net network, which processes real-time multicurrency transfers. In return, Singapore Gulf Bank is integrating its systems with Kraken Prime to provide its clients with additional sources of digital asset liquidity.
Building Around-the-Clock Network Infrastructure
SGB rolled out its real-time clearing network, SGB Net, in May 2025 to bridge conventional and digital financial markets. Monthly fiat transaction volume on the network has reportedly surpassed $20 billion, up sharply from $2 billion in February 2026. However, this surge is based on internal company figures and has not undergone an independent audit.
The Central Bank of Bahrain regulates and fully licenses SGB’s operations. The bank’s financial backing comes directly from Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s Whampoa Group. Prior to partnering with Payward, SGB established multicurrency payment corridor infrastructure through collaborations with J.P. Morgan in January and Standard Chartered in May.
When Will Other Currencies Follow?
The initial rollout phase remains limited to USD settlement and a restricted set of institutional clients in supported jurisdictions. Payward and SGB plan to add more fiat currencies and broaden their client base, though a specific date for subsequent rollouts has not been made public.
For Payward, the move into Asia and the Gulf mirrors an operational strategy already deployed in the United States. In September 2026, the crypto firm reached a similar 24/7 USD settlement agreement with financial institution SoFi. Concurrently, Kraken’s parent company is pursuing an OCC crypto trust charter to establish Payward National Trust Company - a concrete step toward becoming a federally licensed digital asset custodian in the US.
This solution ultimately removes one of the most persistent friction points in institutional trading. With capital no longer tied up over weekends and banking holidays, crypto exchanges are steadily operating more like truly continuous global markets.
Source: crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
