Payward and SGB Connect for 24/7 Dollar Settlement

Payward has connected its institutional digital-asset services to Singapore Gulf Bank’s SGB Net, offering selected clients in supported Asian and Gulf jurisdictions round-the-clock settlement in U.S. dollars, the companies said October 5. The initial rollout is limited to selected institutional customers and one currency, with no timetable announced for expanding access. The arrangement links Payward, the parent company of Kraken, to SGB Net, the bank’s real-time, multicurrency clearing network. Eligible clients can transfer funds without waiting for standard banking hours or cutoff times. The companies say qualifying transactions can be settled at any hour, including outside conventional business days. The partnership also connects Singapore Gulf Bank with Kraken Prime, Payward’s institutional brokerage platform. SGB plans to use the service as an additional source of digital-asset liquidity and pricing for its own customers. The companies have not disclosed how many institutions will participate initially, which cryptocurrencies may be involved or the expected trading volume. The arrangement does not provide immediate access to every SGB customer.