Payward links SGB Net to Kraken Prime for 24/7 settlement

Payward has integrated Singapore Gulf Bank’s SGB Net clearing network to let selected institutional clients fund digital asset activity at any hour, connecting bank settlement to liquidity from Kraken Prime. The Payward announcement says the service starts with US dollar transactions for a select group of clients in eligible jurisdictions across Asia and the Gulf. It addresses a timing mismatch: digital asset markets trade continuously, while conventional bank transfers can be limited by business hours and cut-off times.

How does SGB Net connect deposits to trading?

SGB Net is SGB’s real-time, multi-currency clearing network. Under the arrangement, an SGB client can deposit funds with Payward through the network and put them to work immediately, including outside banking hours. The firms describe this as fiat settlement; they have not said the integration settles trades on a blockchain or uses a smart contract.

SGB is also onboarding Kraken Prime as an additional source of digital asset liquidity. Kraken Prime is Payward’s prime brokerage service. The bank says it plans to draw on Payward’s markets to price trades for its own customers over the coming months. That joins a funding path to a source of pricing and liquidity, but the announcement does not describe an atomic exchange of cash for crypto or specify how trade execution and cash settlement are sequenced.

Who can use the service, and which currencies are included?

The initial rollout covers selected institutional clients in eligible Asian and Gulf jurisdictions, with US dollars as the first supported currency. Payward and SGB say they plan to add clients and currencies over time. They have not named the initial clients or specified the jurisdictions where the service is available. The restriction matters: 24/7 settlement describes the operating window, not universal access.

CoinDesk’s report also notes that the firms did not disclose initial client numbers or transaction volumes for the partnership. Payward’s announcement gives no API, payment-message, ledger or settlement-finality details. Institutions therefore cannot infer from “instant” alone what confirmation they receive, how reversals or failed transfers are handled, or whether every step between the bank account and a trading balance completes at the same speed.

What scale does the bank network already handle?

SGB says SGB Net launched in 2025 and now processes more than $20 billion in fiat transactions each month. That is the network’s reported aggregate volume, not a forecast or a figure for Payward’s new service. SGB is a fully licensed digital bank regulated by Bahrain’s Central Bank, according to the announcement.

The integration moves the banking constraint closer to the trading venue: eligible clients can make funds available through Payward without waiting for the next conventional banking window. Its practical reach will depend on client eligibility, supported currencies and the settlement mechanics the firms have not yet detailed.

Sources and documents

• Payward announcement — payward.com
• CoinDesk’s report — coindesk.com