Kraken parent company Payward partners with Singapore Gulf Bank to provide 24/7 instant settlement for institutional clients

Odaily News: Kraken parent company Payward and Singapore Gulf Bank (SGB) have announced a partnership. Payward has connected to SGB's real-time multi-currency clearing network SGB Net, providing instant settlement services 24 hours a day, 7 days a week for institutional clients in specific jurisdictions across Asia and the Gulf region. The service initially supports USD transactions for select clients, with plans to expand client and currency coverage in the future.

Additionally, SGB will connect to Payward's institutional brokerage platform Kraken Prime to access digital asset liquidity, and plans to leverage Payward's market to provide pricing for client trades in the coming months. Currently, SGB Net processes over $20 billion in fiat transactions per month.