Payward & Singapore Gulf Bank launch 24/7 settlement

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.

SGB launched SGB Net in 2025 for digital asset businesses that needed more flexible transaction processing. The bank says the network now handles more than $20 billion in fiat transactions each month, giving it a significant role in a market where firms are seeking faster links between traditional banking and digital asset trading.

The agreement also reflects efforts by digital asset firms to build closer ties with regulated banking partners rather than rely on narrower specialist payment channels. For institutions, settlement speed can affect trading efficiency, liquidity management and the ability to respond to market moves outside local banking hours.

For Payward, the arrangement is part of its broader banking infrastructure for moving client cash across services including deposits, payments, cards, custody and lending. It also reflects a wider push across the sector to combine brokerage, custody, funding and settlement into a more unified operating model for institutional customers.

Singapore Gulf Bank offers corporate and personal banking accounts to businesses and individuals internationally, combining multi-currency accounts, international payments and remote account opening with access to digital asset services. Its positioning highlights how some newer banks are trying to serve clients that move between conventional finance and digital asset activity.

Mark Greenberg, Chief Commercial Officer of Payward, said the current banking timetable remains a constraint for many market participants.

"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 has built settlement infrastructure that reflects the future of digital asset banking and payments," Greenberg said.

He added that regulated bank links are central to changing how funds move through digital asset markets.

"Every regulated bank we connect with this way brings us closer to a world where settlement and cross-border payments happen in real time, wherever our clients are," he said.

Shawn Chan, Chief Executive Officer of SGB, said the tie-up combines access to liquidity with the ability to move cash when needed.

"Access to liquidity is only useful if clients can move funds when they need to," Chan said.

"By connecting SGB Net with Payward and partnering with Kraken Prime, we are bringing settlement and liquidity closer together, giving clients more flexibility in how they fund and manage their digital asset activity," he added.