Payward and Singapore Gulf Bank have partnered to offer round-the-clock settlement for institutional digital asset transactions. The arrangement initially covers US dollar settlements for a select group of clients in Asia and the Gulf region.

Under the deal, Payward has integrated SGB Net, the bank's real-time multi-currency clearing network, into its platform. The link allows institutional clients of both companies to settle transactions instantly at any time, addressing the longstanding mismatch between always-open digital asset markets and banking systems that still rely on business-hour cut-off times.

Singapore Gulf Bank will also add Kraken Prime, Payward's prime brokerage business, as a source of digital asset liquidity. Over the coming months, the bank plans to use Payward's markets to price trades for its own customers.

The partnership brings together a financial infrastructure provider linked to the Kraken group of products and a Bahrain-regulated digital bank with investors in Singapore and the Gulf. Singapore Gulf Bank is backed by Mumtalakat, Bahrain's sovereign wealth fund, and Singapore's Whampoa Group.

Real-time settlement has become a key operational issue for institutional traders, payment companies, over-the-counter desks and fintech groups active in digital assets. While crypto markets operate continuously, fiat transfers between banks and trading venues often take days, especially across borders, because banking rails remain tied to fixed processing windows.

Through SGB Net, an SGB client can deposit funds with Payward and use them immediately. The service will start with US dollar transactions and is intended to expand to more clients and additional currencies over time, subject to jurisdictional availability.

Source link