Kraken operator Payward and Singapore Gulf Bank platform for 24/7 institutional crypto settlement
Kraken operator Payward has partnered with Singapore Gulf Bank to launch SGB Net, a service enabling 24/7 institutional fiat settlement for crypto trading. The platform aims to bridge the gap between traditional banking hours and the continuous nature of global cryptocurrency markets.
Why it matters
This infrastructure development addresses a critical bottleneck in institutional crypto adoption by allowing immediate liquidity and settlement, reducing the risks associated with multi-day banking delays.
The service begins with U.S. dollar transactions for a select group of clients in eligible Asian and Gulf region jurisdictions, Payward announced on Sunday .
Mark Greenberg, Payward’s chief commercial officer, explained the deal targets a fundamental issue affecting crypto markets. While assets trade all weekend and around the clock, the cash that funds those trades often remains subject to bank cut-off times and multi-day settlement. SGB Net allows clients to deposit funds with Payward and use them immediately.
“Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint: settlement stops when the business day does, while their markets do not,” Greenberg added.
Payward is expanding beyond Kraken’s exchange business into the infrastructure that connects trading, custody, payments and banking. It follows a report last week that BNY is in d i scussions with Payward over a potential tie-up spanning digital assets, custody, trading and payments.
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