Payward, the financial infrastructure company behind Kraken, has partnered with Singapore Gulf Bank (SGB) to enable always-on settlement for institutional digital-asset markets in select jurisdictions. The integration connects Payward with SGB Net, allowing participating clients to move U.S. dollars around the clock instead of relying on traditional banking cut-off times.

Institutional digital-asset markets operate continuously, but the banking infrastructure supporting them has traditionally remained tied to business hours, settlement windows and fixed cut-off times. Payward and Singapore Gulf Bank are targeting that mismatch with a new real-time settlement partnership.

Payward, the financial infrastructure platform behind Kraken, has integrated SGB Net, Singapore Gulf Bank’s real-time, multi-currency clearing network. The companies said the integration will initially allow a select group of institutional clients to settle U.S. dollar transactions instantly, 24 hours a day, seven days a week.

The service is initially available only in specific jurisdictions and to a limited number of clients, with plans to expand availability and add currencies over time.

The underlying problem is straightforward. Digital-asset exchanges, trading venues, OTC desks and other financial businesses can operate continuously, but conventional bank transfers may still depend on banking-day schedules. A transaction initiated outside those windows can leave capital waiting for the financial system to reopen, even while the underlying market continues trading.

SGB Net is designed to remove that delay for participating institutions. Under the new arrangement, an SGB client can deposit funds with Payward and make those funds available for activity on the platform at any time, according to the companies.

The partnership also links settlement with liquidity. SGB is working with Kraken Prime, Payward’s institutional prime brokerage offering, to access liquidity for its digital-asset products. SGB plans to use Payward’s markets to price trades for its customers over the coming months.

That combination is significant because institutional digital-asset infrastructure increasingly depends on more than access to trading venues. Institutions need a coordinated stack covering banking, fiat movement, custody, execution, liquidity and settlement.

SGB launched SGB Net in 2025 specifically for digital-asset businesses with growing operational requirements. The bank says the network has since scaled to process more than $20 billion in fiat transactions per month. That is a company-reported figure rather than an independently verified market benchmark, but it indicates the scale at which banks are beginning to build specialized payment infrastructure for digital-asset businesses.

SGB is regulated by the Central Bank of Bahrain and is backed by Mumtalakat, Bahrain’s sovereign wealth fund, and Singapore’s Whampoa Group. The bank provides corporate and personal accounts, multi-currency banking, international payments and remote account opening alongside digital-asset services.

For Payward, the deal is part of a broader expansion of Payward Banking, which the company describes as the money layer supporting deposits, payments, cards, custody and lending across its platform.

The strategy reflects a larger change in financial infrastructure: digital-asset companies increasingly need banking capabilities that behave more like their markets. Twenty-four-hour trading creates demand for payments and settlement that do not stop at the end of a traditional banking day.

The development also highlights the growing importance of regulated banking partners to crypto and digital-asset businesses. Rather than relying solely on proprietary payment rails, platforms can connect to regulated banks that provide local banking access, fiat settlement and compliance infrastructure.

That model could become particularly important as institutional participation in digital assets expands. Banks, asset managers, fintechs and payment providers need predictable ways to move capital between traditional accounts and digital-asset markets. Delays in fiat settlement can create operational friction, constrain liquidity management and make treasury operations more complicated.

Real-time settlement can address some of those issues, although it does not eliminate other restrictions. Jurisdictional availability, client eligibility, regulatory requirements, currency coverage and the operating rules of individual payment networks still determine where and how funds can move.

The initial U.S. dollar focus also illustrates the practical nature of the rollout. Rather than attempting to create a global multi-currency network immediately, Payward and SGB are starting with a defined group of institutional clients and a major reserve currency before expanding the service.

Competition is emerging across several layers of this market. Digital-asset exchanges and prime brokers are building institutional financial infrastructure, while banks and payment companies are developing faster settlement networks. Stablecoins and blockchain-based payment rails are also challenging traditional approaches to cross-border settlement by enabling near-real-time transfers outside conventional banking schedules.

SGB Net occupies a different position in that landscape. It remains connected to regulated banking infrastructure while providing a continuous settlement experience for digital-asset businesses.

For institutional clients, the distinction may ultimately matter less than the outcome: whether capital can be moved when markets are open and when treasury teams need it.

Payward’s decision to continue adding banking partners suggests that banking connectivity will remain a central part of its infrastructure strategy. As traditional finance and digital assets increasingly overlap, the competitive advantage may shift from simply providing access to crypto markets toward building the financial plumbing required to operate across those markets continuously.

The Payward-SGB partnership is an early example of that transition. By combining always-on fiat settlement with institutional digital-asset liquidity, the companies are trying to close one of the infrastructure gaps between 24/7 markets and a banking system historically designed around business hours.

Market Landscape

The institutional digital-asset market is increasingly developing around infrastructure rather than trading alone. Banks, exchanges, prime brokers and fintechs are competing to provide custody, payments, liquidity, lending and settlement as integrated services.

Real-time settlement is particularly important because conventional banking schedules can create friction in markets that never close. SGB Net’s integration with Payward represents one approach: connect regulated banking infrastructure directly to digital-asset financial services rather than requiring institutions to operate separate fiat and digital workflows.

Stablecoins, blockchain settlement networks and real-time payment systems represent competing approaches to faster movement of value. Regulated bank networks, however, can offer institutions a familiar compliance and account infrastructure while extending availability beyond traditional banking hours.

Top Insights

• Payward and SGB are initially enabling select institutional clients to settle U.S. dollar transactions continuously through SGB Net.
• The partnership connects real-time fiat settlement with Kraken Prime liquidity, linking banking, execution and digital-asset market infrastructure.
• SGB says its network now processes more than $20 billion in monthly fiat transactions, demonstrating growing demand for specialized digital-asset banking.
• Payward is expanding its banking infrastructure strategy as institutional digital-asset clients seek faster deposits, payments, custody and lending.
• The rollout remains jurisdiction- and client-specific, with additional currencies and broader availability planned over time.

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