Kraken Parent Payward Links With Singapore Gulf Bank for 24/7 Dollar Settlement
Key points
- Payward, Kraken's parent, has integrated SGB Net, the real-time clearing network of Bahrain-based Singapore Gulf Bank, for institutional client settlement.
- The initial scope covers US dollar settlement for a select client group, with additional currencies stated as planned.
- Kraken Prime, Payward's prime brokerage arm, is being onboarded by SGB as a liquidity source for SGB's digital asset offerings.
- SGB Net launched in 2025 and currently processes more than $20 billion in monthly fiat transactions.
- The arrangement extends settlement availability to around the clock, removing the constraint of conventional banking hours for participating institutional clients.
Payward, the parent company of crypto exchange Kraken, has connected its institutional business to SGB Net, the real-time clearing network operated by Bahrain-based Singapore Gulf Bank (SGB), enabling around-the-clock settlement for a selected group of institutional clients.
The integration currently covers US dollar settlement, with further currencies in the pipeline. In a parallel arrangement, SGB is bringing Kraken Prime, Payward’s prime brokerage arm, on board as a liquidity source to support SGB’s own digital asset product suite.
SGB Net went live in 2025 and now handles more than $20 billion in fiat transactions each month. The tie-up positions Payward’s institutional clients to settle continuously rather than within conventional banking windows, a meaningful operational shift for desks running positions across time zones.
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