#None #Digital Assets #Singapore Gulf Bank #Payward

Payward and Singapore Gulf Bank Join Forces

In a significant leap towards enhancing the landscape of digital finance, Payward, the parent company behind the well-known cryptocurrency exchange Kraken, has formed a strategic alliance with Singapore Gulf Bank (SGB). This partnership is set to revolutionize how institutional clients settle their transactions in the ever-evolving digital asset markets. By integrating SGB's real-time clearing network, SGB Net, both companies aim to provide 24/7 settlement capabilities, allowing instantaneous transaction processing for clients in Asia and the Gulf region.

A New Era of Settlement

Traditionally, financial transactions between banks and trading venues often faced delays, taking days to finalize, largely due to established cut-off times. This lag in settlement is particularly problematic for the fast-paced digital asset markets that operate continuously. However, with the introduction of SGB Net, transactions can occur at any time, empowering institutional clients to deposit funds with Payward and utilize them immediately. Initially, this service will focus on transactions in US dollars for select clients, with plans to widen the offering to additional clients and currencies in the future.

Mark Greenberg, Chief Commercial Officer of Payward, highlights the limitations faced by various entities in the financial sector: “Exchanges, payment providers, OTC desks, and fintechs all run into the same banking constraint. Settlement stops when the business day does, while their markets do not.” He emphasizes that this partnership with SGB is a step towards eliminating these constraints and providing a more responsive banking experience.

Enhancing Liquidity and Accessibility

The collaboration extends beyond just settlement. By partnering with Kraken Prime, Payward’s full-service brokerage solution, SGB will enhance its digital asset liquidity, which is crucial for effective trading. Over the coming months, SGB will leverage Payward’s extensive market networks to facilitate better pricing and trading for its customers. Shawn Chan, CEO of SGB, notes, “Access to liquidity is only useful if clients can move funds when they need to,” underscoring the importance of instant transaction capabilities in the financial services landscape.

SGB has already demonstrated substantial growth since the launch of SGB Net in 2025, processing more than $20 billion in fiat transactions monthly. The bank, backed by Mumtalakat (Bahrain’s sovereign wealth fund) and Singapore’s Whampoa Group, provides integrated services across multiple markets, ensuring a holistic approach to digital asset banking.

Global Implications

As financial institutions increasingly embrace digital assets, the need for swift cash movement alongside asset trading becomes critical. The Payward and SGB partnership exemplifies how banks and fintechs can innovate to meet these growing demands. With SGB providing corporate and personal banking services that include multi-currency accounts and international payment functionalities, the collaboration enhances support for clients globally.

Payward is committed to modernizing its banking services, aiming to deliver an efficient money layer that encompasses deposits, payments, card transactions, custody, and lending. The digital asset markets continue to converge with traditional banking structures, creating a demand for quick and reliable cash transactions, akin to the pace of trading in financial markets.

Future Outlook

This partnership is only the beginning of an expansive journey for both Payward and SGB. As they align their offerings with the expectations of modern clients, they will continue to add more banking partners. This strategic growth is designed to offer a comprehensive suite of services that supports a broad array of financial activities across the globe. Ultimately, the Payward-SGB alliance symbolizes a significant step towards a more agile and responsive future for digital asset transactions.

About Payward

Payward, Inc. operates as a unified financial infrastructure platform, instrumental in propelling an open global financial system. It is the backbone of Kraken and hosts a myriad of emerging products designed to facilitate seamless financial interactions across various asset classes. By having a shared architecture, Payward ensures clients receive efficient services, proper risk management, and compliance across diverse markets.

About Singapore Gulf Bank

SGB is a licensed institution serving a global clientele in finance. With roots anchored in both the Whampoa Group and Mumtalakat, it is regulated by the Central Bank of Bahrain, offering advanced banking solutions that integrate both traditional and digital asset services. For more insights, visit SGB’s website.