October 5th 2026, 8:56 AM
Kraken's 24/7 Dollar Settlement Paves Way for Asia-Gulf Trade
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.
Please see our real time news feed on our Home Page
Partnership Overview
The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net.Benefits and Impact
This collaboration is expected to increase the speed and efficiency of cross-border transactions, reducing settlement times and costs for participating institutions.Future Developments
Kraken and Singapore Gulf Bank will continue to work together to expand the reach of SGB Net and improve its services, further enhancing the financial landscape in the region.#Singapore#GulfBank#Kraken#24#AsiaTrade