Payward and SGB unveil 24/7 instant settlement service

6.9 Banking

Oct 5, 2026

Payward and Singapore Gulf Bank launch 24/7 instant USD settlement for institutional clients in Asia and the Gulf, integrating SGB Net with Kraken Prime and planning future expansion.

Payward, the parent company of Kraken, has partnered with Singapore Gulf Bank (SGB) to provide 24/7 instant settlement services for institutional clients in Asia and the Gulf region. This collaboration integrates SGB Net, SGB’s real-time multi-currency clearing network, into Payward’s infrastructure. As a result, eligible clients can settle U.S. dollar transactions at any time, including outside traditional banking hours. Initially, the service will be available to a select group of clients, with plans to expand to more clients and additional currencies in the future. SGB Net currently processes over $20 billion in fiat transactions each month. The partnership also grants SGB access to Kraken Prime for enhanced digital asset liquidity. This initiative aims to bridge the gap between the always-on nature of crypto markets and the limited hours of traditional banking, delivering faster and more efficient settlement options for institutional crypto transactions.