Key Highlights:
- Singapore Gulf Bank (SGB) has partnered with Payward, integrating with Kraken Prime to offer round-the-clock U.S. dollar settlement and institutional digital-asset liquidity.
- Through the SGB Net real-time clearing network, eligible institutional clients can transfer fiat balances and immediately access trading without waiting for standard banking business hours.
- Backed by Mumtalakat and Whampoa Group, the Bahrain-regulated bank reports that SGB Net now processes over $20 billion in monthly fiat transaction volume.
Singapore Gulf Bank Integrates Kraken Prime for Real-Time Institutional Settlement
Singapore Gulf Bank has entered into an institutional partnership with Payward to connect with Kraken Prime, establishing an additional channel for digital-asset liquidity and real-time capital mobility. Under the agreement, SGB plans to tap Payward’s markets when pricing trades for its corporate and institutional clients in the coming months. The integration bridges traditional banking rails with around-the-clock digital-asset markets, giving eligible participants immediate access to their capital rather than forcing them to wait for standard correspondent banking hours.
Through SGB Net, Singapore Gulf Bank’s proprietary settlement network, participating corporate clients can execute fiat transfers 24/7. This setup allows eligible clients to deposit funds with Payward and begin trading instantly, including on weekends. While the integration initiates exclusively with U.S. dollar transfers, both Payward and SGB confirmed that additional currencies and clients will be phased in over time, though an official timeline for expansion has not yet been announced.
Addressing the Continuous Trading Liquidity Gap
The collaboration specifically targets one of the institutional crypto market’s most enduring operational hurdles: the misalignment between continuous exchange trading and traditional banking hours. Addressing this challenge, Payward Chief Commercial Officer Mark Greenberg pointed out that settlement stops when the business day does.
The new structure aims to remove friction for institutions executing large-scale, time-sensitive strategies across international markets.
Highlighting the impact of marrying clearing networks with deep market execution, SGB CEO Shawn Chan noted that clients can move funds when they need to
as a direct result of the integration between settlement systems and liquidity venues. However, this immediate access remains designated for eligible institutional accounts rather than SGB’s broader retail base. The firms have not revealed specific projected trading volumes, approved cryptocurrencies, or the total count of institutions participating during the initial rollout.
Rapid Expansion of SGB Net and Major Banking Alliances
SGB Net was rolled out by Singapore Gulf Bank in May 2025 as a real-time, multi-currency clearing system designed for enterprises active across traditional finance and web3. According to an October 5 release from Payward, SGB Net now clears in excess of $20 billion in fiat payments every month—a substantial jump from the $2 billion monthly volume reported in a February 2026 update, though the figures remain company-reported and not independently audited.
Despite carrying the Singapore name, Singapore Gulf Bank is a conventional wholesale bank licensed and regulated by the Central Bank of Bahrain. The institution is backed by Mumtalakat, the sovereign wealth fund of Bahrain, alongside the Singapore-based investment firm Whampoa Group. Following its corporate rollout in late 2024, SGB has aggressively expanded its network infrastructure, onboarding Standard Chartered in May to enhance multi-currency Asian and Middle Eastern corridors, and adopting J.P. Morgan’s Wire 365 earlier in January to enable continuous U.S. dollar payments every day of the year.
Payward Scales Regulated Banking Infrastructure
The deal aligns with Payward Banking, the division managing payments, deposits, cards, custody, and lending rails across Payward’s wider operational ecosystem. It mirrors an earlier arrangement reached in September, when the SoFi–Payward 24/7 settlement partnership connected Payward to SoFi’s real-time payment network, enabling round-the-clock U.S. dollar transfers, the listing of SoFiUSD on Kraken, and access to Kraken Prime liquidity for SoFi clients. The SGB collaboration extends this functional model directly into Gulf and Asian financial centers.
Concurrently, Payward continues to pursue deeper regulatory standing in the United States. In May, the firm filed an application with the Office of the Comptroller of the Currency (OCC) to establish the Payward National Trust Company as a federally chartered digital-asset custodian. The application, which proposed institutional crypto custody without issuing conventional loans or taking traditional deposits, remained pending federal approval through an August licensing update.
Why This Matters
As institutional participation in digital assets deepens, the reliance on legacy banking hours has become a primary bottleneck for capital efficiency and counterparty risk management. By deploying SGB Net alongside Kraken Prime, Singapore Gulf Bank and Payward establish an operational blueprint for cross-border, continuous fiat settlement across the Middle East and Asia. Furthermore, the integration reinforces Bahrain’s position as a strategic regulatory hub connecting Gulf sovereign capital with Asian financial markets, demonstrating how conventional wholesale banking charters can effectively support institutional crypto rails alongside major international correspondents like Standard Chartered and J.P. Morgan.
Frequently Asked Questions
What is the core function of the Singapore Gulf Bank and Payward partnership?
The partnership integrates Singapore Gulf Bank with Kraken Prime, allowing eligible institutional clients to transfer U.S. dollars 24/7 via SGB Net and deploy capital immediately for digital-asset trading through Payward, even outside normal banking hours and on weekends.
Who regulates and backs Singapore Gulf Bank?
Despite its name, Singapore Gulf Bank is a conventional wholesale bank regulated and licensed by the Central Bank of Bahrain. It is backed by Bahrain’s sovereign wealth fund, Mumtalakat, and the Singapore-headquartered Whampoa Group.
Which currencies and assets are currently supported in this rollout?
The initial rollout supports only U.S. dollar transfers for fiat settlement, with additional currencies to be announced later. Separately, SGB operates independent services facilitating stablecoin minting and conversion for assets such as USDC and USDT across the Arbitrum, Ethereum, and Solana networks.
