CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Kraken parent adds 24/7 dollar settlement with Singapore Gulf Bank

Cointelegraph logo

Published on

Add as a preferred source on Google
Kraken parent adds 24/7 dollar settlement with Singapore Gulf Bank

Written by Zoltan Vardai staff writer Reviewed by Yohan Yun staff editor

The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net

Kraken parent company Payward has partnered with Singapore Gulf Bank (SGB) to enable 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region.

Payward has integrated SGB Net, the Bahrain-regulated bank’s real-time clearing network, allowing those clients to settle transactions instantly. The companies plan to expand the service to more clients and currencies, according to a Monday press release .

The bank will also access digital asset liquidity through Payward’s prime brokerage service, Kraken Prime, and use Payward’s markets to price customer trades in the coming months.

Banks and financial firms are developing similar services to speed up settlement and extend it beyond business hours. A consortium including JPMorgan Chase, Bank of America and Barclays plans to launch a tokenized deposit network operated by The Clearing House in the first half of 2027, enabling 24/7 settlement. In Japan, Circle and Nomura reportedly partnered to offer companies instant foreign exchange settlement from 2027.

On Sept. 21, the Bank of Korea unveiled a pilot project to let foreign investors settle won transactions outside regular banking hours.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Trump taps intel chief Jay Clayton to lead new Super Intelligence Force


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.