Singapore · JPMorgan · U.S. · Cointelegraph
Kraken parent debuts 24/7 dollar settlement with Singapore Gulf Bank
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net.
Key facts
- A consortium including JPMorgan Chase, Bank of America and Barclays plans to launch a tokenized deposit network operated by The Clearing House in the first half of 2027, enabling 24/7 settlement
- Kraken parent company Payward has partnered with Singapore Gulf Bank (SGB) to enable 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region
- On Sept. 21, the Bank of Korea unveiled a pilot project to let foreign investors settle won transactions outside regular banking hours
- The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net
Summary
Kraken parent company Payward has partnered with Singapore Gulf Bank (SGB) to enable 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region. Payward has integrated SGB Net, the Bahrain-regulated bank’s real-time clearing network, allowing those clients to settle transactions instantly. The bank will also access digital asset liquidity through Payward’s prime brokerage service, Kraken Prime, and use Payward’s markets to price customer trades in the coming months. Banks and financial firms are developing similar services to speed up settlement and extend it beyond business hours.