Singapore · CoinDesk
SGB Net, launched in 2025, processes more than $20 billion in fiat transactions each month, according to the bank
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As stablecoins move into regulated finance, APAC is becoming a key proving ground.
Key facts
- SGB Net, launched in 2025, processes more than $20 billion in fiat transactions each month, according to the bank
- For Singapore Gulf Bank, connecting settlement with Kraken Prime’s liquidity means institutional clients can move cash and trade without waiting for the next banking day
- Mark Greenberg, Payward’s chief commercial officer, explained the deal targets a fundamental issue affecting crypto markets
- SGB Net allows clients to deposit funds with Payward and use them immediately
Summary
Payward integrated Singapore Gulf Bank’s real-time clearing network to let select institutional clients settle eligible digital-asset transactions and fund trading around the clock. The service initially supports U.S. dollar transactions for clients in eligible Asian and Gulf jurisdictions, with more clients and currencies planned. The partnership addresses the mismatch between nonstop crypto trading and traditional banking hours by making deposited funds immediately available through SGB Net. Payward, the financial infrastructure company behind crypto exchange Kraken, integrated Singapore Gulf Bank’s real-time clearing network to enable institutional clients to settle qualifying digital-asset transactions around-the-clock and fund trading even on a non-banking day. The service begins with U.S. dollar transactions for a select group of clients in eligible Asian and Gulf region jurisdictions, Payward announced on Sunday.