Payward, the parent company of Kraken, has entered a strategic partnership with Singapore Gulf Bank (SGB), a fully licensed digital bank regulated by the Central Bank of Bahrain, to bring always-on settlement to institutional digital asset markets.
The partnership integrates SGB Net, SGB’s real-time multi-currency clearing network, into Payward’s infrastructure. This allows institutional clients in Asia and the Gulf region to settle transactions instantly, 24 hours a day, seven days a week. The initial rollout supports U.S. dollar transactions for a select number of clients, with plans to expand to more currencies and additional clients over time.
SGB is also partnering with Kraken Prime, Payward’s full-service prime brokerage solution, to access liquidity for its digital asset offerings. Over the coming months, SGB will draw on Payward’s markets to price trades for its own customers. SGB launched SGB Net in 2025 and says the network now processes more than $20 billion in fiat transactions each month. SGB is backed by Mumtalakat, Bahrain’s sovereign wealth fund, and Singapore’s Whampoa Group.
Mark Greenberg, Chief Commercial Officer of Payward, said: “Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint. Settlement stops when the business day does, while their markets do not.” SGB CEO Shawn Chan added that connecting SGB Net with Payward and Kraken Prime brings settlement and liquidity closer together, giving clients more flexibility. The collaboration is part of enhancing Payward Banking, the money layer behind the Payward platform.
