Payward, the parent company of Kraken, has partnered with Singapore Gulf Bank (SGB) to launch round-the-clock US dollar settlements for select institutional clients in Asia and the Gulf countries.

Integration of SGB Net for instant settlements

Payward has integrated SGB Net, the real-time settlement network of SGB, a Bahrain-regulated bank, enabling these clients to instantly complete US dollar transactions. The companies plan to expand the service to more clients and additional currencies.

SGB to access liquidity through Kraken Prime

The bank will also gain access to digital asset liquidity via the Kraken Prime prime brokerage service and will use Payward’s markets for client pricing in the coming months.

Global players test 24/7 infrastructure

A consortium including JPMorgan Chase, Bank of America, and Barclays plans to launch a tokenized deposit network managed by The Clearing House for 24/7 settlements in the first half of 2027. In Japan, Circle and Nomura reportedly intend to offer companies instant settlement for foreign exchange transactions starting in 2027. On September 21, the Bank of Korea introduced a pilot allowing foreign investors to settle in won outside standard banking hours.