Kraken parent company Payward and SGB jointly launch a 7×24-hour settlement service for institutions

Kraken母公司Payward接入新加坡海湾银行SGB Net，为亚洲及海湾地区机构客户提供全天候美元结算

Payward已正式接入新加坡海湾银行（Singapore Gulf Bank）的SGB Net系统，旨在为亚洲及海湾地区的精选机构客户提供24/7全天候美元结算服务。

核心亮点

• Payward集成SGB Net，实现跨亚洲及海湾地区的机构客户全天候美元结算。
• 新加坡海湾银行表示，SGB Net目前每月处理的法币交易量已超过200亿美元。
• SGB将利用Kraken Prime的流动性，为其自身客户直接定价数字资产交易。
• 服务初期仅面向部分精选客户提供美元结算，随后将扩展至更多货币和用户群体。
• 新加坡海湾银行持有巴林中央银行颁发的传统批发银行牌照。

Payward于10月5日宣布了此次合作，指出双方客户现可通过SGB的实时多币种清算网络，在任何时间结算符合条件的交易。首批上线的服务涵盖美元结算，并仅限于支持司法管辖区内的有限机构客户群体。

根据同一协议，新加坡海湾银行还将与Kraken Prime建立连接，为该银行提供另一处数字资产流动性来源。在未来几个月内，SGB计划在为其自身客户进行交易定价时，使用Payward的市场数据。

Breaking through traditional banking time limits

SGB Net allows participating customers to transfer fiat funds outside normal banking hours. Through Payward integration, eligible SGB customers can deposit funds into Payward and make funds immediately available for transactions, including over weekends.

This service was initially mainly based on US dollar transfers. Payward and SGB said they expect to add more currencies and customer types in the future, but neither company provided a specific timetable for the next phase.

Mark Greenberg, chief commercial officer of Payward, pointed out that digital asset companies often face the problem of mismatch between consecutive transactions and bank deadlines. He vividly described it: "When the working day ends, settlement also stops."

The company has previously implemented similar structures in other regions. In September this year, Payward's 24/7 settlement agreement with SoFi connected Payward to SoFi's real-time payment network, while SoFi also used Kraken Prime as another source of liquidity for its digital asset orders. Under this arrangement, qualified institutional customers are granted round-the-clock U.S. dollar transfer rights. Kraken agreed to list SoFiUSD, while SoFi said Kraken Prime would supplement its existing sources of crypto liquidity.

The agreement with Gulf Bank of Singapore extends the model to selected Asian and Gulf jurisdictions through an independent network of regulated banks.

SGB Net's monthly fiat transaction volume exceeds US$20 billion

Gulf Bank of Singapore launched SGB Net in May 2025, a real-time, multi-currency clearing network for companies operating in traditional financial markets and digital financial markets.

Payward stated in an announcement on October 5 that SGB Net currently handles more than US$20 billion in fiat currency transactions per month. This data comes from the company and has not been independently audited in the materials reviewed in this report. Previous figures were much lower. A February 2026 SGB update showed that its monthly fiat currency transaction volume exceeded US$2 billion, and subsequent partnerships further expanded the bank's payment and agent banking connections.

SGB website confirms that the institution is licensed and supervised by the Central Bank of Bahrain. Although it is named "Gulf Bank of Singapore," its website identifies it as a traditional wholesale bank.

The bank is backed by Bahrain's sovereign wealth fund Mumtalakat and the Singapore-based Whampoa Group. SGB obtained a banking license before launching corporate services at the end of 2024, and launched SGB Net the following year.

Since then, its network has added links to traditional banks. SGB announced in May a partnership with Standard Chartered to improve multi-currency clearing and settlement between Asian and Middle Eastern markets. SGB's payment corridor partnership with Standard Chartered Bank focuses on correspondent banking infrastructure and providing faster settlement speeds for companies operating in the digital asset market.

Back in January, SGB joined J.P. Morgan's correspondent banking network and adopted the Wire 365 service, which provides year-round dollar clearing. SGB said the service provides customers with uninterrupted access to cross-border U.S. dollar payments.

Kraken Prime will become a new source of liquidity

Another central part of the Payward agreement is Kraken Prime. Kraken Prime serves institutional investors who need access to digital asset trading, liquidity, financing and other services, relying on Payward's infrastructure. Under the new agreement, Gulf Bank of Singapore will use Kraken Prime as an additional venue when obtaining liquidity for customers.

Shawn Chan, CEO of SGB, said that through the connection between settlement and liquidity,"customers can transfer funds when needed." The statement describes services provided through partnerships and does not mean that all SGB customers will have immediate access.

The two companies did not disclose the expected trading volume, the cryptocurrencies supported or the number of institutions included in the initial launch.

SGB has been developing services to connect traditional bank accounts with digital assets, which is done separately from the Payward protocol. Its regulated fiat stablecoin interoperability services have been introduced, designed to help institutions mine, convert and trade stablecoins through regulated banking platforms.

This service supports assets such as USDC and USDT on networks such as Ethereum, Solana and Arbitrum. SGB has positioned SGB Net as the fiat settlement layer that supports these services.

Since then, SGB has added the ability to directly mint and redeem stablecoins for selected businesses and high-net-worth customers, expanding the way customers can convert between bank deposits and digital assets.

Payward continues to increase regulated bank connections

SGB交易是Payward Banking的一部分，后者负责处理Payward产品基础设施内部存款、支付、卡片、托管和借贷方面的现金流动。

银行关系已成为Payward在2026年机构扩张的一部分。与SoFi的协议实现了美国的全天候美元结算，而SGB合作伙伴关系则覆盖了亚洲及部分海湾地区的受支持客户。

与此同时，Payward也在推进受监管的托管基础设施。其向美国货币监理署（OCC）提交的加密信托特许状申请，提议创建Payward国家信托公司，作为美国联邦监管的数字资产托管机构。

该申请于今年5月提交给货币监理署。Payward提议在不接受传统存款或不发放传统贷款的情况下提供机构加密托管服务。在最后一次审查时，OCC尚未授予最终批准。8月的更新显示，Payward仍是拥有待决联邦许可证申请的数字资产企业之一。

与此同时，新加坡海湾银行继续在巴林中央银行牌照下运营。其企业银行服务结合了多币种账户、国际支付、数字资产服务以及合格客户的远程开户功能。

对于Payward的合作，美元仍是首批上线阶段唯一公开确认的结算货币。两家公司表示，第一阶段之后计划增加更多货币和更多机构客户，但尚未公布具体日期。