Kraken Parent Payward Teams Up With Singapore Gulf Bank for Round the Clock Dollar Settlement

Payward, the company behind Kraken, has partnered with Singapore Gulf Bank (SGB) to offer 24/7 US dollar settlement to select institutional clients in Asia and the Gulf region. Payward has plugged into SGB Net, the real-time clearing network run by the Bahrain-regulated bank, so those clients can settle transactions instantly rather than waiting for normal banking hours. The two firms say they plan to widen the service to more clients and more currencies.

Kraken Prime Liquidity and Trade Pricing

The bank will also tap digital asset liquidity through Kraken Prime, Payward’s prime brokerage arm. In the coming months, it will use Payward’s markets to price trades for its own customers.

Banks Race to Offer 24/7 Settlement

Others are moving in the same direction. A group that includes JPMorgan Chase, Bank of America and Barclays plans to launch a tokenized deposit network run by The Clearing House in the first half of 2027, enabling settlement at any hour. In Japan, Circle and Nomura have reportedly teamed up to give companies instant foreign exchange settlement from 2027. On Sept. 21, the Bank of Korea also unveiled a pilot that would let foreign investors settle won transactions outside regular banking hours.