Payward, the parent company of crypto exchange Kraken, has integrated Singapore Gulf Bank's real-time multi-currency clearing network to offer 24/7 settlement for institutional digital asset clients. The partnership gives select institutional clients immediate USD settlement capability, with expansion to additional currencies planned.
Payward said it integrated SGB Net, Singapore Gulf Bank's real-time clearing system, to address settlement speed constraints in institutional crypto trading. Traditional banking rails typically settle within one to two business days; real-time settlement eliminates that lag for institutional desks managing large positions across venues.
The arrangement launches with USD transactions available around the clock for a limited set of institutional clients. Payward has not disclosed how many institutions are participating in the initial rollout or the transaction volumes flowing through SGB Net. The company said it intends to add additional currencies to the network as the partnership expands.
Singapore Gulf Bank operates as a digital bank licensed in Singapore. Its SGB Net platform has been used by financial institutions for cross-border payments and liquidity management. The Payward integration marks the platform's first stated deployment into institutional cryptocurrency settlement infrastructure.
Kraken itself operates as a trading and custody platform for institutional and retail users across spot and derivatives markets. Payward holds a money transmitter license in the US and operates subsidiaries including the Kraken exchange, Payward Crypto, and a dedicated institutional trading desk. The settlement partnership sits within Payward's broader effort to build out infrastructure services for institutions managing digital assets.
Institutional crypto trading has historically relied on stablecoins or bank transfers for settlement between trades and custody accounts. Real-time settlement networks reduce counterparty risk by eliminating the window between execution and final fund transfer. The move comes as institutional adoption of digital assets has intensified, particularly among hedge funds and family offices managing allocations across multiple trading venues.
Payward's initial USD-only approach with select clients mirrors how many financial infrastructure upgrades roll out: limited scope first, then expansion once settlement and custody workflows stabilize. The number of currencies and institutions on the network by year-end 2027 will show whether this partnership becomes a standard settlement rail for Kraken's institutional business or remains a specialized offering. If Payward has not announced expansion to at least two additional currencies and a broader client set within twelve months, the partnership will have remained narrow in scope.
