Payward partners with Singapore Gulf Bank for 24/7 settlement services

Key Summary

Payward, the parent company of Kraken, has partnered with Singapore Gulf Bank (SGB) to offer 24/7 instant settlement for digital assets to institutional clients in Asia and the Gulf region. The partnership integrates SGB Net, the bank's real-time multi-currency clearing network, into Payward's infrastructure. Starting with USD transactions, the service aims to reduce operational friction and speed up how quickly institutional clients can deploy funds. The rollout begins with a select group of clients, and the companies plan to expand to more clients and currencies over time. This partnership follows Payward's recent collaboration with SoFi for real-time USD settlement, targeting the largest pool of demand first.