Crypto05 October, 20262 min read
Payward Integrates Singapore Gulf Bank SGB Net for 24/7 Institutional Dollar Settlement
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Payward integrates SGB Net to enable 24/7 US dollar settlement for select institutions. Partnership with Singapore Gulf Bank provides round-the-clock settlement for Asia and Gulf clients.
8 outlets told this the same way.
Payward links SGB Net
Payward, the company behind Kraken, integrated Singapore Gulf Bank's SGB Net to provide select institutional clients with 24/7 settlement, starting with U.S. dollar transactions. Payward Chief Commercial Officer Mark Greenberg framed the problem as “settlement stops when the business day does,” while the partnership aims to let eligible clients deposit funds and deploy them immediately.
Singapore Gulf Bank CEO Shawn Chan said the linkage means “clients can move funds when they need to,” as SGB Net is designed as a real-time clearing network. The integration begins with a limited rollout for U.S. dollars and a limited number of institutional clients, and the companies said they plan to expand supported currencies and eligible customers over time.
USD-first, Asia and Gulf
Payward and Singapore Gulf Bank said the service targets select institutions in Asia and the Gulf region, with around-the-clock U.S. dollar settlement through SGB Net. Payward integrated SGB Net, SGB's real-time multi-currency clearing network, into its own systems so eligible clients can transfer dollar funds 24 hours a day and deploy them immediately for trading.
The companies said SGB Net processes more than $20 billion in fiat transactions each month, and they did not disclose the number of clients in the initial rollout or the transaction volumes involved. Payward and SGB also described a separate connection to Kraken Prime, with SGB planning to leverage Kraken Prime liquidity when pricing digital asset trades in the coming months.
Settlement race and next steps
Payward and SGB said they plan to gradually expand supported currencies and eligible customers over time, while the initial rollout covers U.S. dollars for a select group of clients.
Cointelegraph linked the Payward-SGB deal to broader efforts by banks and financial firms to extend settlement beyond business hours, citing a consortium including JPMorgan Chase, Bank of America and Barclays planning a tokenized deposit network operated by The Clearing House in the first half of 2027.
Cointelegraph also pointed to Japan, where Circle and Nomura reportedly partnered to offer companies instant foreign exchange settlement from 2027, and it noted that on Sept. 21 the Bank of Korea unveiled a pilot project to let foreign investors settle won transactions outside regular banking hours.
Payward's integration is positioned as a live institutional settlement link rather than a new 24/7 service for every Kraken user, with the practical effect described as strongest inside Payward's institutional business.