The collaboration will initially offer digital asset settlement services to selected institutional clients in Asia and the Gulf region, facilitating around-the-clock U.S. dollar settlements.
By Olivier Acuna|Edited by Omkar GodboleOct 5, 2026, 5:26 a.m. EDT2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Arjun Sethi, co-CEO of Kraken and its parent company Payward, has partnered with Singapore Gulf Bank to facilitate 24/7 fiat currency settlements. (CoinDesk).SummaryShow- Payward has integrated Singapore Gulf Bank’s real-time clearing system to allow select institutional clients to settle eligible digital asset transactions and fund trading continuously.
- The service will initially support U.S. dollar transactions for clients in designated Asian and Gulf jurisdictions, with plans to expand client access and currency options.
- This partnership addresses the gap between continuous crypto trading and traditional banking hours by enabling immediate access to deposited funds via SGB Net.
Payward, which operates the Kraken exchange, has partnered with Singapore Gulf Bank to link their real-time clearing network, facilitating 24/7 settlement for institutional clients engaging in digital asset transactions, even on non-banking days.
The service will start exclusively with U.S. dollar transactions for a limited number of clients across eligible jurisdictions in Asia and the Gulf region, as announced by Payward on Sunday.
Mark Greenberg, Payward’s chief commercial officer, emphasized the partnership aims to resolve a key issue in the crypto markets. While digital assets can be traded at any time, the funds necessary for those transactions are often tied to traditional banking schedules, which can involve delays. The SGB Net system allows clients to deposit funds with Payward and utilize them immediately.
“Exchanges, payment providers, OTC desks and fintechs all face similar banking limitations: settlements cease when the business day ends, even as their markets remain active,” Greenberg noted.
Payward is broadening its focus beyond just the Kraken exchange to encompass the entire infrastructure that links trading, custody, payments, and banking. This follows recent discussions with BNY regarding a potential partnership involving digital assets, custody, trading, and payments.
For Singapore Gulf Bank, this collaboration enables institutional clients to manage cash flow and conduct trades without waiting for the next banking day. The firms have not disclosed the number of clients involved in the initial phase or the transaction volumes expected.
SGB Net, which was launched in 2025, processes over $20 billion in fiat transactions monthly, according to the bank. Both Payward and Singapore Gulf Bank plan to gradually increase their client base and the range of currencies supported.
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Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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