Kraken parent adds 24/7 dollar settlement with Singapore Gulf Bank

Key Summary

Payward, the parent company of Kraken, has partnered with Singapore Gulf Bank (SGB) to offer 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region through SGB's real-time clearing network. The service will enable instant transactions beyond business hours. The partnership also allows SGB to access digital asset liquidity through Payward's prime brokerage service, Kraken Prime. This development follows similar initiatives, such as JPMorgan Chase, Bank of America, and Barclays' planned 24/7 settlement tokenized deposit network, and Circle and Nomura's instant foreign exchange settlement in Japan.