Payward, the financial infrastructure company behind Kraken, has integrated Singapore Gulf Bank’s real-time clearing network to provide selected institutional clients with around-the-clock settlement for eligible digital-asset transactions. The initial rollout covers U.S. dollar transactions in qualifying jurisdictions across Asia and the Gulf region.
A banking link for nonstop crypto markets
The service is designed to address a timing gap between digital-asset markets and traditional banking. Crypto trading operates continuously, including weekends and days when banks are closed. By contrast, conventional cash transfers can be limited by banking hours, cut-off times and settlement schedules.
Through Singapore Gulf Bank’s SGB Net network, eligible clients can deposit funds with Payward and make those funds available for trading immediately. That means institutions using the service do not have to wait until the next banking day to fund qualifying activity or complete settlement.
The initial customers are a select group of institutional clients in eligible Asian and Gulf jurisdictions. The companies have not disclosed how many clients are included in the first rollout or the transaction volumes processed through the arrangement.
Mark Greenberg, Payward’s chief commercial officer, said the issue affects a broad range of firms involved in digital-asset markets, including exchanges, payment providers, over-the-counter trading desks and fintech companies. Their markets remain active beyond the hours in which traditional settlement infrastructure typically operates.
Initial dollar service set to expand
The first phase supports transactions denominated in U.S. dollars. Payward and Singapore Gulf Bank said they intend to add more clients and currencies over time, although they did not provide a timetable or specify which currencies would be introduced next.
For Singapore Gulf Bank, the connection brings its settlement network together with liquidity available through Kraken Prime. The stated aim is to allow institutional users to move cash and trade without waiting for the next banking day.
SGB Net was launched in 2025 and, according to the bank, processes more than $20 billion in fiat transactions each month. Fiat refers to government-issued currency, such as the U.S. dollar, rather than a digital asset or cryptocurrency.
The arrangement is therefore more than a trading feature. It connects banking, cash settlement and digital-asset market access in one operating flow. That is particularly relevant for institutional participants, which generally need reliable movement of money alongside execution, custody and payment services.
Payward’s infrastructure expansion
Payward operates the Kraken exchange but is also expanding into infrastructure that links trading, custody, payments and banking. The new service reflects that broader focus by using banking rails to support the settlement needs of professional digital-asset clients.
According to CoinDesk, the development follows a report that BNY is discussing a possible relationship with Payward covering digital assets, custody, trading and payments. The source material does not say whether those discussions have produced an agreement.
The Payward-Singapore Gulf Bank service is limited at launch. It does not represent a statement that all Kraken users, all institutional clients or all jurisdictions can access 24/7 dollar settlement. Availability initially depends on client selection and eligibility in the specified Asian and Gulf markets.
Moneyiar market picture
Moneyiar market data recorded at the stated times on October 5, 2026, showed mixed performance among the listed digital assets:
- Celestia (TIA) was priced at $0.4759898293, up 0.55% over 24 hours and 3.07% over seven days, at 09:28 +03:30.
- Four (FORM) traded at $0.2838654055, down 1.38% over 24 hours and 3.36% over seven days, at 09:29 +03:30.
- AKEDO (AKE) stood at $0.0318198631, down 7.05% over 24 hours but up 6.56% over seven days, at 09:29 +03:30.
- Comedian (BAN) was priced at $0.066396789, down 0.48% over 24 hours and up 3.16% over seven days, at 09:28 +03:30.
These figures are Moneyiar data and provide a snapshot of selected assets at the specified times; they do not measure activity on the new settlement network.
