Crypto markets never close. Banks, famously, still do.
Payward, the parent company of Kraken, wants to shrink that gap. On October 4, 2026, it announced a partnership with Singapore Gulf Bank (SGB) to offer 24/7 instant settlement for digital assets to institutional clients in Asia and the Gulf region.
The deal integrates SGB Net, the bank’s real-time multi-currency clearing network, into Payward’s infrastructure. For institutions, that could mean money moves when the market moves, not when a back office opens on Monday morning.
How the Payward and SGB deal works
SGB Net is a clearing network that settles fiat transactions in real time across multiple currencies. Payward is connecting to that network. The service will start with USD transactions and a select group of clients rather than opening to everyone at once.
The companies plan to bring on more clients and more currencies over time. Liquidity for the setup will run through Kraken Prime, Payward’s institutional prime brokerage arm.
SGB itself is a fully licensed digital bank regulated by the Central Bank of Bahrain. It launched its corporate banking services in late 2024.
SGB Net went live in May 2025. The network has reportedly handled over $2 billion in fiat transaction volume each month.
The problem with banker’s hours
Digital assets trade around the clock, every day of the year. Traditional banking rails, by contrast, still largely keep business hours. For an institution, that mismatch creates friction: if a bank wire won’t clear until the next business day, a trading opportunity may be gone by the time the money lands.
The Payward and SGB partnership targets exactly that problem. The stated goal is to reduce operational friction and speed up how quickly institutional clients can deploy funds.
Part of a broader Payward playbook
In September 2026, Payward teamed up with SoFi for real-time USD settlement using the SoFi Exchange Network. The SGB deal follows the same template, pointed at a different part of the map.
SGB Net already has 24/7 partnerships with Cactus Custody and Fireblocks, both of which serve institutional players in the digital asset space.
What this means for institutions and the market
The most direct beneficiaries are institutional clients in Asia and the Gulf. If the service delivers as described, these clients could gain the ability to fund positions or pull capital out at any hour, without waiting on legacy banking windows.
The choice to launch with USD is worth noting. The dollar sits at the center of global finance and crypto trading alike, so starting there addresses the largest pool of demand first. If USD settlement runs smoothly, extending the model to other currencies becomes an easier sell to both clients and regulators.
The rollout starts with a select group of clients. Watch for three things: announcements of new clients joining the service, the addition of currencies beyond USD, and whether Kraken Prime’s liquidity offering expands alongside the settlement rails.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
