Payward, Kraken’s parent company, has connected to Singapore Gulf Bank’s SGB Net clearing network, enabling eligible institutional clients in Asia and the Gulf to make US-dollar deposits around the clock, seven days a week. Participating institutions can deposit cash with Payward and use it immediately for digital asset activities. Singapore Gulf Bank also plans to use Payward markets to price digital asset trades for its own customers over the coming months. Both companies intend to add more clients and currencies over time, but have provided no specific expansion date. Singapore Gulf Bank launched the SGB Net network on May 1, 2025, with Payward now connecting to this existing system.
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