Payward, Kraken’s parent company, has partnered with Singapore Gulf Bank (SGB) to enable 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region. Transactions will be settled instantly through SGB Net, the Bahrain-regulated bank’s real-time clearing network. The bank will also access digital asset liquidity through Kraken Prime’s prime brokerage service. The two companies plan to expand the service to more clients and additional currencies. Other major banks including JPMorgan Chase, Bank of America and Barclays are developing similar services, with a tokenized deposit network planned for the first half of 2027.
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