Payward Connects to Singapore Gulf Bank to Enable 24/7 Dollar Funding
Payward has integrated with the SGB Net clearing network to provide round-the-clock US-dollar funding for institutional clients across Asia and the Gulf.
Payward, the parent company of Kraken, has established a connection to the SGB Net clearing network operated by Singapore Gulf Bank. This integration allows selected institutional clients in eligible jurisdictions within Asia and the Gulf to access US-dollar funding 24 hours a day, seven days a week.
Participating institutions can now deposit cash into their Payward accounts and deploy those funds immediately. The service aims to provide greater flexibility for these clients when moving capital for digital-asset activity.
Beyond the current funding capabilities, Singapore Gulf Bank intends to utilize Payward markets to price digital-asset trades for its own customers. This pricing service is expected to launch over the coming months, though no specific date has been provided.
The partnership also involves SGB working with Kraken Prime to source liquidity for digital-asset trades. While the dollar funding connection is currently live for an initial group of clients, the companies have not disclosed the names of these participants or the specific countries where the service is available.
Looking ahead, the companies plan to expand the service by adding more clients and supporting additional currencies. There is currently no set timeline for these expansions, leaving the broader rollout of the network and the start of the customer-pricing component as the primary developments to watch.
