The Kraken SGB partnership will enable Payward, which is the parent company of Kraken, to link up with the SGB Net of Singapore Gulf Bank, giving its institutional clients real-time settlement round the clock.
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This is an attempt to fill the significant void that exists between the operation of the crypto market, which is available 24/7, and the traditional banking system, which used to work on fixed operational hours.
The Kraken SGB Partnership, which was announced on Oct. 5, has led to the establishment of a partnership between Payward and the SGB Net through the company’s institutional trading platform. The partnership is currently serving some specific clients in terms of settling their US dollars.
The partnership agreement will also allow the Singapore Gulf Bank access to Kraken Prime as another avenue for the liquidity of the digital assets.
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What Happened With the Kraken SGB Partnership?
The Kraken SGB Partnership merges Payward’s digital-asset infrastructure and the real-time clearing infrastructure of Singapore Gulf Bank (SGB).
Using SGB Net, eligible customers are able to clear qualified transactions instantaneously, irrespective of the time of day. What this means is that institutions do not have to wait until the next traditional banking hours to clear their US dollar balances related to their digital-asset activities.
Rollout is initially restricted to a few selected institutions only. According to Singapore Gulf Bank, the service would begin with U.S. dollar settlements and then move forward to other currencies and more customers.
The deal works both ways. In return for access to the SGB Net platform for fiat settlement, Payward will be able to make use of Kraken Prime for its liquidity in digital assets for customer transactions.
Singapore Gulf Bank is regulated and authorized by the Central Bank of Bahrain and is guaranteed by Bahrain’s Mumtalakat and Singapore’s Whampoa Group.
Why 24/7 Fiat Settlement Matters for Crypto
Crypto exchanges operate on a 24×7 basis as opposed to conventional banks, which operate during fixed business hours. Kraken SGB Partnership plays a key role in bridging this gap by enabling qualified financial institutions to transfer qualified funds in real time, even when the bank is closed for business.
SGB Net Processes More Than $20 Billion a Month
Singapore Gulf Bank introduced its SGB Net in 2025 as a real-time, multi-currency clearing platform that was intended to help financial entities and enterprises that operate in various markets.
According to Singapore Gulf Bank, its SGB Net currently processes more than $20 billion in fiat transactions monthly. This growing ecosystem is increasingly playing a significant role in SGB’s efforts to bridge traditional financial services to digital asset players.
This bank has created other connections with the crypto industry already. In March, LTP digital assets prime broker connected to SGB Net in order to ensure uninterrupted fiat-digital asset flow of funds.
One day before the Kraken SGB Partnership, Singapore Gulf Bank also revealed a partnership with the Rain exchange, which is regulated in Bahrain. The partnership involves banking operations, client money operations, and virtual account operations.
This indicates that Singapore Gulf Bank is building a banking network for firms that require a fiat network to operate along with ongoing cryptocurrency exchanges.
Kraken SGB Partnership Expands Payward’s Institutional Banking Network
Another Kraken SGB partnership, which is yet another initiative by Payward to strengthen its ties with financial institutions.
At the start of September, Payward announced its cooperation with SoFi using the SoFi Exchange Network. In the new cooperation model, eligible Kraken institutional clients receive 24/7 settlement in US dollars, whereas SoFi gets additional liquidity in digital assets thanks to Kraken Prime.
This partnership follows the previous one; however, there is an important geographic difference.
While the cooperation with SoFi helps Payward tap into the US banking network, SGB gives access to another settlement channel covering institutions in the Gulf and Asia regions.
It is worth noting that having several banking connections may help digital asset companies with diversifying fiat money flows between various geographic regions.
Crypto Rebuilds Its 24/7 Banking Infrastructure
The requirement for round-the-clock fiat settlement came into greater prominence following the downfall of some crypto-supporting U.S. bank networks in 2023.
SEN (Silvergate Exchange Network), in particular, allowed its clients to settle dollars between accounts at any time of the day. The same was provided by Signet, Signature Bank’s platform.
In 2023, both of these banks ceased to function in their initial bank ecosystem. While Silvergate decided to liquidate due to loss of deposits, Signature Bank was shut down by the regulatory body.
The Kraken SGB Partnership does not replace either SEN or Signet, but it illustrates the ways the industry creates new banking linkages to help digital asset markets thrive without relying on the previous banking infrastructures that were in place before 2023.
The SGB strategy also features a wider geographic orientation because its network links regulated banking infrastructures with digital asset firms in the Gulf and Asia.
What Comes Next for the Kraken SGB Partnership?
At the start of the collaboration, the Kraken SGB Partnership will offer the settlement of payments in US dollars, but more currencies and users will follow. The collaboration helps improve Payward’s banking system, while SGB gains access to more crypto users.
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