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SOL Payward has entered into a partnership with Gulf Bank of Singapore to provide round-the-clock settlement services to institutional customers.
Payward, the parent company of cryptocurrency exchange Kraken, announced a cooperation agreement with Gulf Bank of Singapore (SGB). The partnership aims to provide round-the-clock settlement services to institutional customers, thereby eliminating one of the most stubborn pain points in the crypto market-business hours limits for traditional banks.
Core content of cooperation
Payward has integrated SGB Net, a real-time multi-currency clearing network owned by SGB. Through this integration, institutional customers of the two companies can achieve instant settlement of transactions, supporting uninterrupted operation 24 hours a day, seven days a week.
Currently, this settlement service first provides US dollar transaction settlement functions to some selected customers, and plans to gradually expand to more customer groups and more currency types in the future. This integration allows institutional customers in Asia and the Gulf to achieve instant settlement at any time.
The move directly targets a structural gap in financial markets: the cryptocurrency market operates 24/7, while traditional settlement infrastructure is limited by working hours. As Mark Greenberg, chief commercial officer at Payward, points out: "Exchanges, payment providers, over-the-counter trading desks, and financial technology companies all face the same banking constraints. When the working day ends, settlement stops, but their market never stops."
In addition, SGB has entered into a partnership with Payward's full-service master broker solution Kraken Prime to gain liquidity for its digital asset products. In the coming months, SGB plans to use Payward's marketplace to conduct pricing transactions for its own customers.
Scale and Background of SGB Net
SGB launched SGB Net in 2025, designed for digital asset companies with growing operational needs. Since its launch, the network has expanded rapidly, processing more than US$20 billion in fiat currency transactions per month.
SGB is supported by Bahrain's sovereign wealth fund Mumtalakat and Singapore's Whampoa Group and uses digital methods to recruit corporate customers in various markets. As a fully licensed digital bank, SGB is regulated by the Central Bank of Bahrain.
This cooperation with Payward is the latest development in SGB's recent series of institutional business initiatives. As early as early as 2026, Gulf Bank of Singapore launched a regulated platform that allows institutions to mint, exchange, trade and hold stablecoins (such as USDC and USDT) on multiple networks such as Ethereum, Solana and Arbitrum. Previously, the bank also partnered with Standard Chartered Bank of the United States to improve cross-border settlement and correspondent banking in the Middle East and Asia.
For Kraken and its institutional clients, this agreement represents a substantial upgrade to the operating infrastructure that supports large-scale digital asset transactions, which is expected to be followed by broader currency and customer coverage in the future.
