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FollowingPayward, the parent company of Kraken, has entered into a partnership with Gulf Bank of Singapore to provide real-time fiat settlement services to institutional customers.
Payward, the parent company of Kraken, a global cryptocurrency exchange, announced a new partnership with Singapore Gulf Bank (SGB). The partnership connects Payward's institutional customers to the SGB Net system-a round-the-clock, real-time settlement system developed by SGB. The move aims to bridge the operational gap between the cryptocurrency market that operates around the clock and the traditional conventional banking system that only operates during working hours.
24/7 settlement integration meets institutional needs
This collaboration, announced on October 5, allows Payward to provide instant U.S. dollar settlement services via SGB Net to select institutional customers, eliminating delays associated with traditional bank deadlines. Currently, this service is limited to a small number of qualified customers, and plans are to further expand the scope and support more currencies in the future.
In exchange, Gulf Bank of Singapore will connect to Kraken Prime, Kraken's institutional trading platform, to open up new channels for digital asset liquidity. This cooperation builds on the technological advantages of both parties, combining Payward's digital asset infrastructure with SGB's real-time payment platform.
SGB stated that eligible customers can instantly process transaction settlements anytime, anywhere, regardless of time or date, simplifying the flow of U.S. dollars for institutional participants in the digital asset market.
Gulf Bank of Singapore is licensed and regulated by the Central Bank of Bahrain and financially supported by Bahrain's Mumtalakat and Singapore's Whampoa Group, providing a solid foundation for its operations. SGB Net processes more than $20 billion in fiat currency transactions per month, supporting financial institutions and corporations operating in multiple jurisdictions. The bank launched the multi-currency clearing platform in 2025 to promote seamless capital flows for its clients active in global markets.
This cooperation is not the first time SGB has entered the crypto ecosystem. In March this year, the bank integrated with LTP, a master broker for digital assets, to provide uninterrupted flow of funds from fiat currencies to digital assets. Recently, SGB also signed another agreement with Bahrain's regulated exchange Rain to support banking and virtual account services for its customers. These measures strengthen SGB's strategic positioning as a key banking bridge for crypto-related companies that require an integrated fiat network.
Expand cross-regional bank connectivity
Kraken's recent collaboration with SGB is part of Payward's broader efforts to diversify its institutional banking network in international markets. Back in September, Payward revealed that it had reached a similar partnership with SoFi, using the SoFi Exchange Network to provide $24/7 settlement services to eligible Kraken institutional customers. Through this arrangement, SoFi gained additional digital asset liquidity through Kraken Prime.
虽然与SoFi的联盟加强了Payward在美国银行业的存在感，但SGB协议则为海湾地区和亚洲的机构提供了结算服务的接入权限。建立多个银行连接允许数字资产公司在不同地理市场之间平衡法币流动，减少对任何单一地区银行基础设施的依赖。
2023年，随着美国几家关键的加密支持银行关闭，包括曾为数字资产市场提供全天候交易能力的Silvergate银行的SEN平台和Signature银行的Signet平台，机构客户对不间断结算的需求日益凸显。Silvergate和Signature均于2023年停止运营，留下了加密业务即时法币结算服务的空白。Kraken与SGB的合作并未直接取代SEN或Signet，但它展示了行业如何构建新的跨境银行联系以支持数字资产市场的增长，特别是在美国以外的地区。
在项目启动初期，结算将仅限于美元，但两家公司均有计划支持更多货币并将访问权限扩展至更多的机构用户。该举措旨在增强Payward的法币渠道，同时为SGB带来在海湾和亚洲地区接触数字资产客户的更多曝光机会。
合作详情对比
区域： 海湾地区及亚洲
结算功能： 通过SGB Net实现24/7美元结算
流动性收益： SGB接入Kraken Prime
区域： 美国
结算功能：Achieve US$24/7 settlement through SoFi Exchange Network
Liquidity gains: SoFi access to Kraken Prime
