Kraken parent adds 24/7 dollar settlement with Singapore Gulf Bank
The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net
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 companies plan to expand the service to more clients and currencies, according to a Monday press release.
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.